GET ACLIMATED TO OIL AND DRILLING STOCKS!!! This area will have the growth in earnings going forward. Also the weekly API report was released after the bell and ALL OIL and OIL BY PRODUCTS are down for the week. The #'s showed a decrease of 3.5 Mil Bls of crude while the expected 3's were suppose to come as a 2.5 INCREASE IN CRUDE!!
This is perhaps the best place to swing trade!! The drillers DO, RIG, HAL, SLB, BHI, RDC, GLM, etc... are coming of a sell off when crude went from 37.5 to 32 yesterday. This morning it was a choppy trade, but currently as I write this post CRUDE is up over .50 on access. We should have a nice 10-15% run in these stocks in the near term, with oil up and earnings being released.
I do not trust ANY TECH STOCKS in this current enviroment! Its brutal, and UNSAFE to trade unless its INTERDAY!
I still like KG, CRA, and other bio's but will stay away from tech until its safe again, probably after the election!! |
