Thursday, November 30, 2006
Sector Spotlight: Energy
Granted, my piddly FXE position is doing just fine, long the fucktarded Euro. But, I am starting to really worry about having to bring a wheelbarrow to my local mall this holiday shopping season, in order to buy some iPods.
Keep a close eye on the FXE. Should it continue to go higher, U.S. indices will get rocked.
As for Oil:
I have a simple theory. As the dollar trades lower, oil has to trade up. Oil is a dollar denominated commodity. Moreover, it's not a coincidence to see oil prices jack higher, as our currency melts away. After all, the fuckers in the middle east want to get paid a fair price, right? The problem they have is the wheelbarrow dollar. The fucker keeps going lower, they're getting ripped off. Hence, oil trades up. Get it?
Anyway, I did some research and identified, what I consider, the "cheapest" energy stocks publicly traded. If you don't know by now, oil is going higher.
Here is my short list:
NGS, BRY, EPEX, PTEN, NXY, MIND, RRC, EAC, AEZ, ARD, GMXR, CHK, XEC, SM, GMRK, CEO, BRNC, UPL, STP, PTR, DO, BRG, XTO, HP OXY, EOG, DK and ESV.
NOTE: Please take the new "Fly Survey." Cramer: Good or Bad?
The dollar is selling off because the U.S. has amassed obscene amounts of debt in the Iraq debacle. As soon as we "redeploy" our troops and former GS head Snow figures out a clever scheme to "repackage" the debt, the greenback will be back on Easy Street. Patience.
Seems like shorts will get utterly screwed here and the stock's likely to have a strong move up. buy more, lots?
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