Oil Is One Of The Five Major Market Anomalies Right Now Which Means It Could See An Explosive Move: Credit SuisseRupert Hargreaves
According to Bank of America Merrill Lynch's latest Equity Client Flow Trends report, throughout the third quarter flow sentiment remained the most persistently negative for Energy.
Specifically, according to the report from the bank, all of its clients have been selling energy stocks throughout the third quarter has the price of oil has trended higher.
Even though other sectors saw a higher volume of selling in dollar terms, Energy has been the sector where selling has been the most persistent and relentless, both across single stocks and ETFs.
Credit Suisse's equity research analysts believe investors are making a mistake by rotating out of oil. In the October 4th issue of their Global Equity Strategy update, the analysts conclude that oil is likely to stay "stronger for longer" owing to supply issues and rising demand.
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