do u see profit taking in oil here? i feel its due for little correction here. it has to go to 28-33 level. will enter long in oil stocks after that. whats your opinion?
orderNchaos
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@LetsBeMillionaire, you mean usoil right? Stocks already move, it doesn't make sense to wait for usoil to drop before buy stocks, you would have bought both usoil and stocks a couple weeks back. USOIL have already rebound big, but oil stocks hasn't, that's why i think it will catch up now. Even if usoil pull back at this level, it won't be such a big factor.
LetsBeMillionaire
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@orderNchaos, infact oil stocks picked up more than USPOIL. most of the oil stocks are way up more than when oil dipped from 40-33 level with russia news. look at XOP, XLE, and other oil stocks on 9th march and today. oil back to that price but oil stocks way up... lately oil stocks are following market. market went up a lot and oil stocks just following it. in past 2 months i have seen many days when oil is flat or -ve but stocks up. this has to take abreak here