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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…




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