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:
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