If you read the subject line and didn't immediately know that this post was about energy stocks, then you probably watch too much television, explains JC Parets of AllStarCharts.com.

Diamondback Energy (FANG) has always been a Texas-based Oil & Gas E&P stock. It has nothing to do with mega-cap growth.

It's quite obvious that many investors bought the wrong FANG, and I say good. That makes this unwind we've been witnessing that much more explosive.

The more people getting smoked in tech and other growth, the better it is for the rest of us who aren't stuck in that garbage. My suggestion is to ignore the gossip columnists and focus some more on the only thing that actually pays anyone: price.

Here's FANG breaking out to new all-time highs:


FANG is just under $30 billion market-cap, so technically it's considered "large-cap" energy. But realistically, $30 billion is nothing.

For us, the way we calculate market caps, this stock is still in the mid-cap category. The reason I mention this is to reiterate that there is still plenty of room left for price appreciation.

Remember, the top of the chart doesn't mean there's resistance there. This one can still just be getting started.

The chart I find most hilarious is when you compare the real FANG with that fake one, they're shilling to the poor souls who don't know any better:


New multi-year highs for this spread...

Energy continues to be a global leader, regardless of your time horizon. Have you noticed that most of the angry investors these days are the ones who still own too much growth?

You don't hear energy investors complaining, do you? There are winners and losers, in both the markets and in life, fortunately we have a choice.

Is this a bear market for your portfolio? Or a bull market? It's totally up to you.

Learn more about JC Parets at (AllStarCharts.com).