Energy Sector The New Value Play?
The tide may be turning for the worst-performing S&P sector this year PUBLISHED 4 HOURS AGOUPDATED AN HOUR AGO Michael Affigne Trading Nation: Energy catches fire Energy stocks may be fueling up for a comeback rally. Republished by Scott Shields Katy, Scott Shields Houston, www.morganshields.com Geopolitical tensions in Saudi Arabia sent the XLE ETF, which tracks energy stocks, surging over 2% on Monday. Matt Maley, equity strategist trader at Miller Tabak, says this could be energy’s time to shine. “We’re getting in this time of the year, when you get to the last three or four months of the year, that any time an underperforming group and under-owned group — the energy sector is less than 5% of the S&P — when it starts to rally, that attracts a lot of the institutional investors that are looking to make up performance. And the best way to do that is with an under-owned group that’s playing catch-up,” Maley said Monday on CNBC’s “Trading Nation. ” Energy has been the worst
