With the overall market trading in negative territory on the day, we’d like to take a moment to dig into the worst performing sector of the day; energy. With both natural gas and crude trading down on the day, the overall sector is down a whopping -2.5% heading into the final hour of trade. Instead of just pointing the finger at natural gas prices being down over 5%, we’d like to point out some outliers within the sector, both out performers and under performers.
OTC Energy Standouts:
A micro cap company that is no stranger to outperforming the sector, Zion Oil & Gas Inc. (OTCQX:ZNOG) is up over 2% after the price bounced off of the 10-day SMA at the intraday low. This Dallas-based company has been riding an amazing uptrend over the course of the last few months.
On the flipside, Superior Energy Services Inc. (NYSE:SPNX) is down to $.08/share (-77.1%) after the announcement was made that the company filed for bankruptcy. This sharp decline comes after months of aggressive selloffs to add to the overall down trend the stock has rode for years.
