Suggest Putting Oils On Your Radar

[KCalhoun]

Oil energy airlines etc still falling knives... for pivots I like to see at least 3 consecutive green days before entering... I like UWT GUSH ERX DAL UAL eventually but not now

 

[Scataphagos]

I agree....this sector is so hated it's not even funny. Unless oil drops to mid 1990s prices at under 15 a barrel but if that were to occur it would mean a full blown worldwide recession.

Oil stock groups are selling well below where they were when oil was $26 back in '16. Hard to get comfortable with the possibilities... Then again, I never imagined Citigroup <$1.

(And while we're at it... keep an eye on pot stocks. Good chance you'll be able to pick them up for a dime at some point.)

Take Canopy out of this index and what do you have??

 

[traider]

What's the best oil ETF for this play? XLE?

 

[Peter8519]

I agree....this sector is so hated it's not even funny. Unless oil drops to mid 1990s prices at under 15 a barrel but if that were to occur it would mean a full blown worldwide recession.

Why would there be a recession? Only big oil is in trouble, low energy cost is good for the economy.

 

[Peter8519]

What's the best oil ETF for this play? XLE?

Almost back to its 2009 level. Anything lower will be even more attractive.

 

[Clubber Lang]

What's the best oil ETF for this play? XLE?

Problem with XLE is 42% of the ETF is XOM and CVX.
So they overwhelm the remaining holdings.

Check out IEO.
Oil and gas exploration and production ETF

https://finance.yahoo.com/quote/IEO/holdings?p=IEO&.tsrc=fin-srch

 

[Scataphagos]

What's the best oil ETF for this play? XLE?

Keep an eye on any of the oil ETFs that are big enough for your play... possibly excluding any small, niche ones. Suggest playing one/more on "relative strength". That is, buy one(s) that sold off the most or that sold off the least (resisted the decline). Can't tell in advance which will lead the recovery.

 

[KCalhoun]

I'm absolutely buying GUSH UWT if they bounce mon tue, or DWT if it continues up.

Look at 90day daily charts.... just wow.

 

[Cuddles]

Is the thesis here that it's oversold? If the WuHuFlu cripples commerce, and there's nothing to ship, and everyone's bunkered at home, who's gonna buy? We don't have that many wars to fuel at the moment.

 

[_eug_]

Has anyone actually taken a flight recently? I took a domestic flight in Asia and all the seats were sold out. A family member flew Canada to Dominican Republic and flight was full as well. Maybe the media is blowing things out of proportion.