Joe, I talked about that a few weeks ago when they skunked down the close-in crude & natgas futures, I made a few bucks, and those trades are closed out, but I am looking at that sector again. The picture was clearer then, it was easy money, now it is harder to figure.
And, as I posted on the 13 thread around the same time, I was buying RD, which was $40 at that time, it is now $53, but I sold too early, natch....
So, I would look at selected oils, like RRC..But I would only buy on weakness.
On the other hand, if some of the mid-east oil fields somehow get blown-up, or worse, hit with some of those suitcase nukes, you would want to be long crude and a number of the domestic oil producers.
I also understand they are holding up ships that deliver liquid natgas, for security reasons. The off-set is natgas inventories are beyond full.
In closing, I just don't know with any conviction what to do in this sector, this minute, but I am watching, waiting.. |
