As you say all has changed in the short period of 2 months. From generally bullish on the energy sector the market has turned to totally negative "end of world mood". From 100%" expert" view that a supply problem was coming in 2019 (remember the $100POO suggestion? ) all the experts have now changed their view to a glut over supply ( to help the close out their shorts?) In a lot of cases anyone wanting to get out of thinly traded oil/gas stock today had to take a lose of 10% to 20% in one case. Way overdone IMO and I can see a correction to this over sold position including SXY back to 40cents. It might not be a Santa rally but it could be very soon after.
SXY Price at posting:
30.5¢ Sentiment: Hold Disclosure: Held