WIC's up?
The WIC tracks stocks in the energy, defense, and selected media and high-end retailing industries. I began thinking about it in May 2001 as I tried to imagine the stock market impact of an oil man in the White House.
Since January 19, 2001 (inauguration day) the top three performers in this index are:
- Valero (VLO) + 649%
- Arch Coal (ACI) + 502%
- Peabody Energy (BTU) + 436%
The most interesting trend since the last time I checked the WIC in September 2005, is that oil services stocks have skyrocketed. To wit, since then
- Schlumberger (SLB) + 57%
- Halliburton (HAL) + 46%
- Baker Hughes (BHI) + 33%
This suggests that companies like Exxon are beginning to believe that energy prices will continue to rise – thus justifying the risk of exploring for more.
0 Comments:
Post a Comment
<< Home