It’s no secret the oil and energy sectors have been outperforming in 2022.
Of course, when a trend like that is no secret, it tends to become a crowded trade. And we’ve seen a taste of the ramifications of that in recent weeks. There were some vicious pullbacks in all the biggest winners about two weeks ago.
Fast forward to today, and the smoke has cleared a bit. Many of these names survived the exits of hot money and are now showing signs of resuming their prior uptrends.
At the top of this list right now is Exxon Mobil $XOM.