MortimerDodd
2022-06-09

I think a lot of the money coming into energy got diverted when the bogus rally in broader markets stared about 2 weeks ago. I also think that will be over and the money flow will turn back to energy after CPI Friday. Too many people calling the top of inflation after last month, but my google searches showing major inputs like energy, rent, food and used cars were all up in May and I think the headline number is going to increase. A handful of companies earnings already being reduced too. I think that rally will be over and new leg down for broader market will occur on Friday. Energy stocks may go down too as on broad sell off days everything in the baskets (etfs and mutual funds and 401k) get sold. Then they come back and buy winners /energy. Oxy is reasonably valued here, but looking forward, especially the next 2 Quarterly reports, we will go much higher, I think even $110 likely imo$Occidental(OXY)$

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