Exiting the Oil Trade
Source: http://briskycapital.blogspot.com/2008/12/exiting-oil-trade.htmlPosted on Tuesday, December 16th, 2008 | In Energy Markets, Market Commentary
Contributed by: Michael E. Brisky (http://briskycapital.blogspot.com) -
I went ahead and a href=”http://briskycapital.blogspot.com/2008/12/oil-ready-for-short-term-rally.html”exited the oil trade/a. OPEC announced that they will cut 2 million barrels of production tomorrow. This appears to be a “buy the rumor, sell the news” trade. Economic weakness is probably going to trump the production cut and keep pressure on oil prices. If you’re looking for a oil company to buy and hold, its still a good time to buy. I believe supply issues will become important once we see some economic recovery, and prices will climb again.
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Tags for this Post:
Energy Markets, FULL, Market Commentary, michael brisky, Oil, Oil Prices, oil trade/a;, Organization Of Petroleum Exporting Countries
Energy Markets, FULL, Market Commentary, michael brisky, Oil, Oil Prices, oil trade/a;, Organization Of Petroleum Exporting Countries
 About Michael E. Brisky (http://briskycapital.blogspot.com)
Welcome to "In the Know." Here I discuss macro trends in the market, and how I think investors can profit from them. I particularly follow energy stocks and other beneficiaries of secular growth. My investing style would best be described as a hybrid. A hybrid of value and growth; of fundamental and technical analysis. I think you have to be flexible to be a successful investor, but also disciplined. |
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