A Top-Down Look at Energy
Once in a while, it's important to speak from a macro perspective on energy, leaving aside specific stocks -- even if we don't come up with a grand portfolio strategy, we'll at least be more nimble in our timing of entries and exits. And right now, the energy investment picture is a very mixed bag indeed.
On the macro level, oil prices are strong and steady -- but for the wrong reasons in almost every fundamental way. The IEA report last week showed a big reduction in the acceleration of oil usage worldwide -- proving again how useless the IEA is at prediction -- and we can see a steady drop of prices for oil throughout the energy curve, a backwardation that would normally be a very bearish indicator....466 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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