I took positions in a few of my favorite oil names this morning as the group put in some nice hammer candles yesterday. We also get news overnight on China investing $280 billion in Iran’s oil & gas and Petroleum sectors. With some higher lows, and continuation this morning, I’m taking a shot here at some beat up oil names.
The Exodus runner screen is also loaded up with a bunch of names within the industry, all with high short sellers– ripe for a squeeze. Note that the following screen are more for trading than investing. I went more the investment route, buying solid companies this morning. For those interested in today’s runner/squeeze screen: CLICK HERE FOR CHARTS
My new oil swings can be found within the confines of Exodus. For the simple investor, $OIH works well here with a stop under yesterday’s low:
Good luck all.
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You and Fly should stop trading oil while you are behind so you don’t get behinder.
When I step into a puddle a rainbow colored sheen of oil forms around my boot. We’re pulling enough oil out here in West TX to feed the world. No more OPEC pegging the barrel. We’re in charge now.