Oil is perceived as being an unavoidable loser as long as trade tensions rage.
In addition to the Callon preferreds, I also own Callon's 10/24 senior notes, but not the stock.
Crude oil is hanging around $60 a barrel mid-summer with no real demand uptick coming on.
But trading calls and puts in Amazon requires you to know your risk tolerance big-time.
The best way to play this is via refining sector companies with the best earnings leverage.
Last-hour buying sent the indexes into positive territory, but breadth remained negative, oil-related stocks were brutalized as money flowed into precious metals, bitcoin and bonds.
Let's review the charts.
Petroleum producing nations know supply, but can't figure out demand as U.S. shale, the China trade war and international dealing by Saudi Arabia and Russia come into play.
The recession story off of oil? I am not buying that.
Let's check the latest charts and indicators.