It appears that not only did Janet Yellen's soothing words from last week decouple the broad US equity market from any fears about oil prices, but energy stocks themselves now have absolutely no relationship with the underlying raw material that drives their business (and it's not like the Contango provides much support). Now where have we seen this before?
As oil prices plumb the week's lows, energy stocks continue their short-squeeze rebound dead-cat-bounce idiocy - because the market's always right and 'knows' the future (just like in 2000 and 2007 and twice in November and already in December)
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Fear of missing out conquers all...
Chart: Bloomberg
