Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: Wyätt Gwyön who wrote (4372)	4/15/2004 12:21:39 AM
From: gregor_us	Read Replies (2) of 116555

What Next for Oil, Oil Stocks, Emerging Mkt Oil Stocks? Everyone is griping that the oil stocks have lagged the market in the bull run, and everyone agrees that demand is only going higher, and no one truly believes there really is some sort of secret supply upturn that is really going to meet global demand... Meanwhile, the emerging market oils like PetroBras, Tatneft, and Statoil remain undervalued and seriously so--and all the Futures and many of the Options indicate--continue to indicate--dim views about petroleum prices over the next 2-6 years. On top of all this we've got a nice little inflation panic here that one would think would make the sector robust. I grant the Oil Service proxy OIH already had a big move, though. I'm getting the impression even the veterans are clueless about what happens next.

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