you can’t count on getting another chance to jump in.
But now you have it ... because, the energy market started a mini-correction. My view:
- This is a big chance! It opens a window of opportunity for any late comers who want a crack at the same kind of profits earlier investors have already been making.
- It won’t last very long. It could be over in a matter of days — or less.
- It has done nothing to change the trend. The upward trend in energy is being driven by some of the most resilient supply-and-demand pressures in 100 years. One day in the market does nothing to change that.
- At around the current level, the market has firm support. Oil and oil stocks could recede a tad further. But if you’re looking to invest at a good entry price, I wouldn’t wait for that. The market could skyrocket suddenly and you’d wind up chasing it.
Meanwhile, select oil and gas companies are reporting record earnings, just like I told you they would. This morning, Shell announced profits were up 12% to just over six billion dollars for the 1st quarter of this year. That’s equivalent to $67 million per day … nearly $2.8 million per hour.
posted by Karl Ortenburg @ 9:54 AM
2 Comments:
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Interesting website with a lot of resources and detailed explanations.
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