I hate videos without the transcript.
On the price of oil: $106 in the near term ... then $110.
How much is on fundamentals, not on speculation (Egypt)?
Technicals: it should still move toward $110 on fundamentals.
But watch out. Speculators: extremely long; hitting new records; makes analysts cautious. But fundamentals support higher prices.
One stock: OXY Petroleum. Confirmed for a 10% move up. But investors need to be careful -- a "bearish backdrop." OXY flirting with $100. If it breaks past its all-time high of $114, it could have massive upside to $153. Same with oil. But if OXY were to move back to the $80's, watch out. If it then moved to the mid-70's, OXY could actually go back to single digits. Extreme volatility.
Comment: well that's a pretty safe bet by this analyst -- OXY shares could pop to $153 or fall all the way back to single digits. LOL. I think I just wasted five minutes.
Disclaimer: this is not an investment site. Do not make any investment decisions on anything you read here or anything you thought you might have read here.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.