Short $XOP

Shorting the Oil & Gas ETF seems like a good trade today to hedge the US equity downside risk. Aiming for a move to 40 with SL @ 44.5.

Underlying components are bouncing today, yet remain in respective downtrends:

$COP: Conoco Phillips

$FANG: Diamondback Energy

$OXY: Occidental Petroleum

$COG: Cabot Oil & Gas Corp

$EQT: EQT Corp

$DVN: Devon Energy

Charts sourced from

Disclosure: I am building a position in this short.

I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.

Disclaimer: This is not investment advice, please do your research before committing capital. Stop loss levels mentioned are indicative for the risk I would be willing to commit on these trades with my trading style. Everyone’s different, commit what you can stomach losing.