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Oil traders are facing a very sorry place, and it's even worse if you concentrate in trading oil stocks and advising others on the energy sector, as I do.
So much is currently broken, but there is one and only one chart that must be first on your mind today if you’re trying to invest in oil stocks:
Here's a simple representation showing oil prices since the start of the year in RED -- and oil stocks represented by the XLE oil stocks ETF in BLUE
What’s clear is that the relationship between oil and