There's two things you dont want to be on Thanksgiving. One is a Turkey

Thanksgiving carries some scars for us O&G guys and gals.

2014 was murderers’ row. I won’t recap.

I wish I had this chart back then - oil divided by S&P 500.

The ratio peaked Jun-2008 just before Lehman. It recovered by Sep-2011 on China driven stimulus.

But in technician talk Sep-2011 was a lower high - time to bail. I did not.

Instead I stuck around until Nov-2014 and became a Turkey on the third Thursday in November. A position you never want to be in.

Eight years later here we are.

With 3Q earnings under wraps, I decided to update my the brilliantly named Crude Chronicles Energy Index (CCEI).

And unlike SLB, I didn’t overpay some consultant for that sort of branding.

As a side note, to me SLB will always be Schlumberger just like BP will always be British Petroleum and Shell will always be Royal Dutch Shell Group.

Below is the CCEI since 1894. For background on the index see my first post on it HERE.