• 4 minutes Projection Of Experts: Oil Prices Expected To Stay Anchored Around $65-70 Through 2023
  • 7 minutes Oil prices forecast
  • 11 minutes Algorithms Taking Over Oil Fields
  • 14 mintues NIGERIAN CRUDE OIL
  • 1 hour UK, Stay in EU, Says Tusk
  • 2 hours Socialists want to exorcise the O&G demon by 2030
  • 9 hours How Is Greenland Dealing With Climate Change?
  • 11 hours Blame Oil Price or EVs for Car Market Crash? Auto Recession Has Started
  • 5 hours Venezuela continues to sink in misery
  • 10 hours German Carmakers Warning: Hard Brexit Would Be "Fatal"
  • 12 hours WSJ: Gun Ownership on Rise in Europe After Terror Attacks, Sexual Assaults
  • 6 hours Maritime Act of 2020 and pending carbon tax effects
  • 1 day "Peace Agreement" Russia vs Japan: Control Over Islands Not Up For Discussion
  • 1 day BofA Sees Oil at $35-70
  • 1 day Regular Gas dropped to $2.21 per gallon today
  • 13 hours Trump inclined to declare national emergency if talks continue to stall - Twitter hides this as "sensitive material"
  • 18 hours Orphan Wells

The Ideal Candidate To Play A Bounce In Oil

We all know in our heart of hearts that the real key to successful investing and trading is to be somewhat contrarian. Warren Buffet’s wisdom about the fearful and the greedy has been quoted so often that it has moved into the realm of a cliché, but it is still true. It is only common sense that buying low and selling high should be your aim, not the other way around, and in order to do so you have to buy when others are selling, for whatever reason.

Regular readers of my ramblings (assuming of course that such a beast exists) will be aware that I have been bearish on oil for a couple of months. At the beginning of June I wrote here, and in several other places, that I thought that oil’s sojourn above $50 would be short lived, and on June 3rd said that “a return to around $40 looks more likely than a clean break of $50”. Though I say so myself, that wasn’t a bad call.

Now that we are at the predicted level, though, what next? Well, now is the time to start looking around for things to benefit from a bounce back. To some people that may seem crazy…I mean oil futures have lost ground on nine out of the last ten trading days and for perfectly good reasons. Brexit is a fact, OPEC is still pumping like crazy, the rig count in the U.S. is even edging up, and the dollar is in an upward trend. Only a fool would buy now! If that was your reaction, then I refer you to the first paragraph…there is plenty of fear about; it’s…

To read the full article

Please sign up and become a premium OilPrice.com member to gain access to read the full article.

RegisterLogin



Oilprice - The No. 1 Source for Oil & Energy News