RIG has pulled back and stopped out...
As I had warned at Capital Wave and over at Money Printer... there was ample reason to expect a "sell the news" event. Instead of trying to chase markets... It's important to understand that the purpose of a market is to sell. I have said it's not a great time for upstream producers linked explicitly to prices.
New traders need to set key stops and recognize that premarket behavior can become a fast setup for profit-taking. It sucks you in and can spit you out.
OPEC did provide support to markets by NOT increasing output. Energy signals are still positive, but largely fueled by a big rally on the back of DOWNSTREAM refining names.
