The Canadian Energy Market Shows The OPEC Fallout

This intraday chart shows the drop on the OPEC announcement.

With crude oil down hard into the high $70 level ($70.91 at time of writing) and the Toronto Stock Exchange moving marginally on the news (-40 on an index at 15000) it might be a contrary time to look for energy plays that hold up well over the next few weeks and months. It won't take much to push crude into the high 60's which should start to set the desperation level at exhaustive. 

Good trading,
Greg Schnell, CMT