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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (37107)	11/15/2017 8:02:50 PM
From: Goose94	Read Replies (1) \| Respond to of 203329

Crude Oil: market has measurably improved YTD in terms of both fundamentals and sentiment. The “oil glut” has fallen by 60 per cent in the first 10 months of the year and this trend will continue given strong demand growth, high OPEC compliance to its production cut, anemic non-U.S./OPEC supply growth, and a moderation in U.S. production growth rates. We still believe the oil market can reach normal levels by early 2018. The oil price has made a two year high given this backdrop and our earlier prediction of oil rallying into the mid-US$50’s by year end has come to pass. There remains a massive, giant, epically humongous divergence between the price of oil and the price of oil stocks due to tax loss selling, worries about oil demand destruction due to electric car adoption, lack of sector rotation, and uncertainty heading into the November 30th OPEC meeting. With valuations in some cases at roughly half of historical levels, we see extremely attractive upside in energy stocks. Perhaps it will just take getting past tax loss selling season and the November 30th OPEC meeting for investors to return to the space. In the meantime, our holdings continue to experience record profitability levels, announce massive share buybacks, and reduce overall leverage due to high levels of free cash flow. We remain in a multi-year bull market for oil… patience will eventually pay off. For more information, visit www.ninepoint.com/media/318873/sprott-energy-fund-monthly-commentary.pdf ninepoint.com Eric Nuttall