The crude oil crush has taken down power shares, however there could also be some survivors, based on Easier Buying and selling director of choices Danielle Shay.
Crude briefly cracked beneath $20 on Monday taking it to ranges not seen since early 2002. Power shares have been dragged together with the sector tanking virtually 53% this yr and buying and selling close to ranges it final hit in early 2004.
Shay stated that setting implies that solely the largest oil corporations will survive given the "disastrous scenario" crude now finds itself in. She stated power corporations "want oil to be $40 to $50 a barrel" for them to remain afloat.
"The one [names], on this scenario, which might be going to have the ability to survive are ones which have sufficient money available with a low debt-to-equity ratio," she stated Monday on CNBC's "Buying and selling Nation."
"These names are actually simply going to be Chevron, Exxon, after which the massive names which might be going to find the money for to get via this."
Mark Newton of Newton Advisors additionally believes the low is not in for...
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