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Strategies & Market Trends : Dino's Bar & Grill
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To: Goose94 who wrote (85074)5/20/2020 4:26:22 PM
From: Goose94Read Replies (1) of 202704
 
Crude Oil: Josef Schachter remain bullish on the energy sector long-term once we get past the current quarantine and economy reopening issues later this year. Demand and supply should be in balance during late Q3/20 and crude prices should exceed US$40 per barrel during winter. The near-term inventory issues are why we are currently cautious. There are lots of great stocks to buy which have material long-term growth prospects, but we recommend using windows of market routs to be buyers. We were buyers of our favourite energy and energy service ideas during the plunge in the stocks in mid-March. Our approach is to buy on harsh shake-out periods in the market. The short recovery rally from late March we see as overdone and now look for another down-leg as crude storage inventories will continue to build into July. The market has been focused on the demand recovery and over time will start to look at the balance of supply and demand and see that the inventory glut remains, resulting in crude prices retreating.

We are now offering a complimentary macro energy product for those interested in the sector called “Eye on Energy,” which provides a weekly review of the macro events affecting the sector. Go to schachterenergyreport.ca to subscribe.


Josef Schachter on BNN.ca Market Call Wed May 20th @ 1200ET
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