A little long term encouragement: This month's "Personal Finance"(Stephen Leeb) is hot on oil, particularly drillers and service cos. A sample of his column and articles:
"Oil stocks may drag for a few more months. But over the longer term, these stocks, especially the drillers and service stocks, are millionaire makers."
"Back up the truck and shovel in the shares."
"The key to world energy demand remains vastly larger[than SE Asia]China and India...these countries' economies are projected to grow at high single digit rates, more than enough to maintain their huge appetite for energy."
"Their fundamentals[drillers] are as strong as ever...great pricing power."
"These stocks are priced for a catastrophe that is highly improbable."
"Stunning buys for long term investors ..."
He names ESV, SLB, GLM, NE, RDC, and in the oils, APA, CE, PPP, SGO, CHV, XON, TX.
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