Oil stocks crashing
For some time I have been commenting that there was weakness in the oil services/equipment sector. Just this weekend I said that I expected further weakness. Well, it sure did come fast.
While we are stopped out of these stocks, I love the near-term prospects so much that I will be getting back in. Timing will be the question.
What will stop these stocks from going into free-fall will be a Saudi led cut in production. They and only they can truly influence the oil prices.
This will be a major buy opportunity so be ready.
While we are stopped out of these stocks, I love the near-term prospects so much that I will be getting back in. Timing will be the question.
What will stop these stocks from going into free-fall will be a Saudi led cut in production. They and only they can truly influence the oil prices.
This will be a major buy opportunity so be ready.
posted by Andrew at
9:00 AM
2 Comments:
Close to 7% drop yesterday -- looks like a few days' wait might make DO look even sweeter! Hope you are right about the ramp up as you were about the upcoming softness!
The market is waiting to see genuine cutbacks in oil production or the return of surplus
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