Energy Values Lie Across the Pond
Today's announcement of bond buying programs put into place by Mario Draghi and the European Central Bank (ECB) are not entirely news: We knew that another program of central bank support of sovereign paper was coming. And doomsayers will argue that the devil lies in the details of all of these efforts: What kind of prerequisites will be required of troubled countries such as Spain and Portugal in order to receive direct loans?
But here is the immediate bottom line: Support keeps on coming. And I have continued to watch some energy stocks leveraged to the European malaise that remain super cheap in light of continuing ECB and International Monetary Fund (IMF) support: French giant Total (TOT) and Italian integrated Eni (E)....434 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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