Okay so lets get down to it... Im sure youve noticed the price of gas is super low. Yes, we all know this. So the idea here is anytime you see a market this far from its average you need to pay attention and think How can I make money off this?. That being said, last week I advised my clients to take very small positions in a couple oil stocks. I believe oil prices will remain low into summer but of course the market moves faster than actual commodity prices as its based on speculation and big names want to be in when its finally obvious to the little guys. I think oil is getting close to a bottom. Taking a small bookmark position here is a great way to scale in. If this isnt the bottom and well determine that by watching the charts close, the Dow and also a couple ETFs like USO we can always bail out if needed. Having a small position of 100 shares (if thats too much for you then maybe 50) protects us from big losses. Once we get some confirmation well get our 2nd bigger buy. So heres where we are at for this week...
Posted on: Mon, 19 Jan 2015 21:27:32 +0000
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