By Cody Willard
I’ve been saying for a while now that I don’t see any reason to try to game a bottom, or any type of trade for that matter, in oil/energy.
We’ve made a lot of money and avoided a lot of heartache over the years sticking with our strategies. Unless oil drops to like, say, $20 a barrel and there’s a wave of bankruptcies in the sector where we could go in and buy the survivors, I’m just not interested in playing energy/oil. Oil CLH5, -1.61% is down 33% in the last three months. I doubt that it’ll be down 33% from here when we look back in three more months’ time, but I don’t know that we’ll see the $75 level from just 90 days ago for many years to come.
Continue reading at MarketWatch
