Equity rally participation thinning out

The Dow more and more seems to be the last one standing, broader indices are lagging by 11% over the last year.

Very pronounced since October:

Index comparison


I wont be shorting

Good time to be short XOM

The media tonight, was reporting price of gas down, may go down a bit more, then started shrieking “THE PRICE COULD GO UP AGAIN!!!” Always gotta keep the mob in a panic about something. I might try what worked so well when 43 was in office: buy oils at the end of January, and hold until Memorial day. Would have paid off if I had done that last spring.


That chart looks a lot better than one for SPY or QQQ.


That’s my point…plus a few more characters for posterity.