Time To Start Buying Energy Stocks? [ConocoPhillips, Chevron Corporation, Halliburton Company, Schlumberger Limited.]

Part of the reason why they aren’t acting like natural gas is because there aren’t any pure natural gas companies. Most E&P companies produce oil and have oil and natural gas liquid (NGLs) reserves.

During the cold winter in early 2014, natural gas spiked to $6.50 in February. Natural gas spiked to $6.50 during the cold winter. Prices fell and found a bottom in July.

From that time on, prices have based. We need to see the same thing happen for energy stocks. Prices rarely make a “V” when they fall this much. Once they find a bottom, they tend to base (i.e., trade sideways). This should give us time to position ourselves for the winter.

When the basing starts, I will let you know when it’s time to start buying energy stocks again. For now, this is a time to keep a close eye on the charts … and keep some powder dry … for the opportunities the upcoming heating season will bring.

dan-hasseyThis article is brought to you courtesy of Dan Hassey

Uncommon Wisdom Daily is a free daily investment newsletter published by Weiss Research, Inc. This publication does not provide individual, customized investment or trading advice. All information is based upon data whose accuracy is deemed reliable, but not guaranteed. Performance returns cited are derived from our best estimates, but hypothetical as we do not track actual prices of customer purchases and sales. We cannot guarantee the accuracy of third party advertisements or sponsors, and these ads do not necessarily express the viewpoints of Uncommon Wisdom Daily or its editors.

Pages: 1 2 3

Leave a Reply

Your email address will not be published. Required fields are marked *