• 3 minutes Tesla is the Most American Made Car!
  • 7 minutes Should the US government be on the hook for $15 billion?
  • 11 minutes Forecasts for oil stocks.
  • 5 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 34 mins U.S. Presidential Elections Status - Electoral Votes
  • 57 mins China Producing Half of the Worlds Electrical Vehicle Batteries is Experiencing Explosive Pollution
  • 2 hours California breaks 1 GW energy storage milestone
  • 1 day Colonial pipeline hack
  • 2 days Severe Drought in the West Will Greatly Reduce Electrical Production from Hydroelectric Turbines.
  • 8 hours Beware the Left's 'Degrowth' Movement (i.e. why Covid-19 is Good)
  • 3 days Survival of Oil and Gas industry.
The World Will Run Out Of EV Batteries By 2025

The World Will Run Out Of EV Batteries By 2025

The world is going all-in…

A Terrible Time For OPEC+ To Resolve Differences

A Terrible Time For OPEC+ To Resolve Differences

It seems that Saudi Arabia…

The Real Reason Oil Prices Aren’t At $80

The Real Reason Oil Prices Aren’t At $80

There has been plenty of…

Editorial Dept

Editorial Dept

More Info

Premium Content

Why This Is Not The Right Time To Buy Energy Stocks

If there is one thing that history teaches us (other than that we don’t learn from history) it is that following a drop as severe and rapid as this in the stock market and commodity prices, there will be some incredible opportunities once things start to recover. The energy sector has been one of the hardest-hit areas of the stock market, so it is likely that some of the biggest opportunities will be there. That doesn’t mean, however, that investors should look to rush in and buy energy stocks indiscriminately.

I know that after a strong three-day rally FOMO will be running high, but patience and selectivity are essential at times like these, and right now is not a good time to buy.

For one thing, crude looks to be revving up for another test of the double low just above $20 that formed over the last couple of weeks. That may or may not hold but buying energy stocks just before we find out that important piece of information makes no sense at all. If it does hold, there will still be plenty of upside left after that is known, if it doesn’t there will be much better entry points before long.

In addition, if we look at the S&P 500 from an Elliott Wave perspective, things there look pretty bad right now.

The pattern so far has a classic Elliott look. A first wave was followed by a fifty percent retracement, then a bigger wave, also followed by a fifty percent retracement. In theory, that means that the fifth wave, the…





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News