I bought some more oil stocks early afternoon Friday. I think the selloff in those is stupid as the data show very strong demand for gasoline. I added to positions in CVX, XOM, DVN, MRO, and COP. I added a little CHK, too, as the natural gas excess supply has been whittled down nicely and prospects of a hot summer are good.
I am planning to start to buy US stocks soon to replace some of those sold recently. I think this is a correction in a bull market, not a change to a bear market. Of course, more bad news could change that.
About Me
- Bunkerman
- I have a pioneer mentality. My wife & I live in the woods - neighbors aren't visible except slightly in winter. Our "bunker" - hehe, really a fine home & barn - has plenty of security. We have four dogs: Krypto (age 9, Kelpie), Ava (age 13, Rat Terrier), Sky (Kelpie, age 5) and Lucky Star (age 1, kelpie). I don't take crap from anyone anymore, having enough resources & gear stocked up to survive in any circumstance. I have three degrees from Harvard including a Ph. D. in a physical science, and an MS in Management from MIT. I worked as an investment banker for about 25 years, mainly in secured finance, at three major Wall Street firms and for the last 17 years with my partners at our own firm. I'm semi-retired now, managing some private corporations and business interests and doing my own trading & investing. This is not to boast, but to give you an idea I know a little about some subjects from experience. The photo is my 1943 M16 half-track which I am restoring. These armored vehicles were ubiquitous in the US Army in World War II and Korea. It's driveable.
2 comments:
If the economic data is soft this week , the recession talk will surely heat up. I'll be watching oil prices ( and oil stocks) carefully as a tell.
I think we can count on the beefers to drive prices to good buy points. They are in full bear mode. Patience will pay off, imho.
Post a Comment