Profit from Oil's Seasonal Low
Source: Forbes, Tom Aspray (8/2/11)
"The usual summertime correction in oil prices is now setting up risk-controlled buying opportunities for stocks and ETFs."
The usual summertime correction in oil prices is now setting up risk-controlled buying opportunities for several strong oil-services stocks and a primary sector ETF.
The stock market's celebration over the apparent debt-ceiling resolution was short lived, as a much-weaker-than-expected manufacturing report doused the rally with cold water. Though the stock market is oversold, the failure to mount a better rally suggests a drop to the March lows may happen sooner rather than later. The good news is that the increasing negativity may mute any reaction to a worse-than-expected job report on Friday. . .View full article