Just a quick update to my free subscribers.
You don’t know this, because you haven’t been on the “inside” of the Energy Word, but I’ve been advising my alerts and premium subscribers to do mostly nothing for the past several weeks.
This, while oil and gas stocks have been raging.
Why I was doing this should have been made pretty obvious with today’s action. I was convinced that the markets were headed for a general downfall and that whatever reactions stocks would have from inflation and the rate increases from the Federal Reserve were far from over.
Today’s action wholly confirms one of the earliest advisories I got in my 20’s from my trading mentor on the floor of the NYMEX:
“They go up slow,” he said to me – “but oh, man, do they ever come down fast”.
I believe that oil and gas stocks (and other materials) are a far better investment than other stocks in a downturn, even a recession, if that’s what we’re headed for (I think we are). But I also knew that when the storm came, oil and gas stocks would hardly go unscathed.
Man, you can say that again:
EOG Resources -7%
Exxon-Mobil -4.35%
Marathon Oil -5%
Cheniere -5%
Range Resources -5%
But here’s the thing – this is just what we’ve been waiting for – and maybe just what YOU’VE been waiting for.
I wasn’t about to recommend buying EOG at $145, or Exxon at $104. But EOG at $128? And Exxon at $92?
Now, that’s quite a different story – recession or not.
What I’m saying is that if you’ve been hesitating on buying oil and gas stocks because they’ve been too expensive for you and you hate buying stuff at $100 you could have bought at $80 (and who doesn’t) – I’m saying we could be coming on a time when you should get your hands out of your pockets.
I’m saying nothing in the oil and gas narrative has changed between Friday and today. Nothing. And that opportunity might be knocking. And, if you sign up today to my alerts or premium package, you’ll be getting a newsletter tomorrow that just might outline some of those opportunities I’m seeing today.
dan@dandicker.com
