Big Caps Move Up at Expense of Energy (ETF: XLE)

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About: Energy Select Sector SPDR ETF (XLE)
by: David Fry

As big cap stocks finally moved higher they did so at the expense of XLE (Energy Sector ETF) and other sectors. Iran announced it would restart uranium enrichment while at the same time they’ll buy time by returning to talks with their Russian pals. Barring other events there won’t be much new Iranian tension until the UN meetings in March. So, with energy supplies ample and entering the low demand season, it makes sense that prices could fall. Based on available trading data, traders short the energy complex now exceeds those long.