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Thread: Oil Stocks....WTF

  1. Default Oil Stocks....WTF

    I wouldnt, oil will just go up again in and then the stocks will follow. Demand will continue to grow and supply wont be able to keep up in the longrun though for the meantime we look good.

  2. Default

    It's always a crapshoot with crude, but if the company you are holding is solid (like XOM) I wouldn't sell here, but I would have sold a couple of weeks ago at the 52 week high heading into the end of driving season, and I did, but I speculated on DK right after that, and I'm a bit of a bagholder at the moment, although it was encouraging to see DK move up about 5% on Friday while crude fell.

  3. Default

    If you haven't sold yet, why sell at or near the bottom? Notice that crude has been much less volatile over the last few days which to me indicates that it is perhaps leveling off just waiting for some geopolitical news (that article about war with Iran in Time doesn't help calm fears), also remember that the refining margins are still there, not as large as they were, but eventually the speculators will be back once they come to their senses and realize that there is global demand for more oil every year. I think the Ace on oil stocks is in the knowledge that OPEC is quite unlikely to allow crude to go below $60, so I don't understand all of those pundits calling for sub $5x.xx crude prices.

  4. Default

    I have OXY as well. Bought it on that large dip last Oct. around $71. Had 50% gains on it until this downtrend but it's just seasonal. Wait for the trend to start to reverse and pump a couple of extra bucks into it to average down. I like the long term prospects of this stock. Seasonal fluctuations don't bother me.

  5. Default

    Well there's no telling really. I agree with the earlier post about oil most likely stabilizing soon. Any sort of even that drives oil higher will turn this around [and other oil stocks] pretty quick. Still in a downtrend so we'll have to see when it bottoms.

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