Thank you, Traveltrailer,
As you may have noticed my post was about oil market and oil trader perception, not equities.
Tech vs. energy is the money managers business for capital allocation.
I don't think it is so bad, I see it no better-no worse. Equities want to rise, but each attempt was discouraged by weaker WTI.
All equities can be split into various groups: high growth, growth, growth and income, income, value, large cap, mid cap, small cap, various sectors - all mutual funds follow their specific group, and investors choose.
Some money managers have different group weightings, but high growth never invest in energy while value rarely invest in tech and high growth.
So reallocations are minimum, could involve XOM, CVX, OXY and few others.
If you invest in small-mid cap producers and all size Canadians, you need just wait for higher oil prices. Will come, I'm convinced.