U.S. ACCUSED OF WAR PROFITEERING, HONG KONG STOCKS UP 5% ON A RUMOR
By Nigam Arora & Dr. Natasha Arora
To gain an edge, this is what you need to know today.
War Profiteering
Please click here for a chart of oil ETF USO.
Note the following:
- The chart compares oil ETF USO with oil and gas exploration and production ETF XOP.
- Historically, oil and oil stocks move together. The chart shows a glaring divergence. For the period shown on the chart, oil stocks have done 22% better than oil.
- Investors should always pay attention to glaring divergences such as the one shown on the chart.
- OPEC+ is meeting this Sunday.
- It appears that Saudi Arabia continues to be aligned with Russia.
November 29, 2022