Courtesy of ZeroHedge. View original post here.
Submitted by Tyler Durden.
While Kyle Bass once remarked that “the brevity of financial memory is about two years,” it appears for today’s energy stock traders the period of goldfish-like memory is a mere two days… As the following chart suggests, the ‘bounce’ in XLE – the S&P Energy Sector ETF – is entirely decoupled from credit’s uglier-and-uglier reality (just as it did on Tuesday, only to crash again yesterday).
Trade accordingly…
Chart: Bloomberg