Have you been experiencing a sickening feeling? The kind you get when a plane hits some unexpected turbulence, or when the roller coaster you’re on takes that high drop?
Some people like that feeling – if they’ve chosen to be on a roller coaster. Of course, they’ll come out just fine on the other end of the ride with big smiles on their faces. They might even run to get back on line for another trip.
But if you’re investing in the market, volatility is nothing to enjoy. And definitely not something to wish for.
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This column is less an energy update than something far broader in scope. But I can’t ignore the bigger picture surrounding oil and oil stocks and still have any chance of getting the smaller picture right, and volatility is currently swamping out everything else in the energy markets.
Volatility isn’t a disease, it’s a symptom. It’s a symptom with a number of possible diagnoses, like a chronic cough is for a person. You might have a cold – or it could be something much worse. But one thing for sure, a chronic cough is not something to wish for, nor is it something you’d be smart to ignore.
Since the market highs in late February, we’ve had a very violent correction from some understandable sources: The big and long-awaited corporate tax cut was passed. A changeover in the Fed chairman signaled a slow but…