Oil Stocks – Time to Get Back In?
For the past six months the price of Brent Crude has quietly marched upward from $44 to over $60 which represents more than a 35% gain.
Despite these gains in the underlying commodity, oil-based stocks have been slower to recover from their recent collapse, however some oil stocks have begun to show signs of strength.
One such stock is Enbridge (ENB-T) on the Toronto Stock Exchange (TSX) which has been showing signs of strength since November.
If ENB-T can maintain its current trend line and break above resistance @ $52 I will be a buyer.
After an 18 month break for personal reasons, I am back. The look is new, as I have redesigned the site but the trading strategies and investment approach are the same. I will continue to use the strategies and approaches I have developed and proven over the past 35 plus years in the markets.
Thank you to those who have sent emails over the past several month’s asking for the site’s return and I hope you will continue to follow and utilize our strategies at your personal discretion. I am glad to be back as trading and investing are my passion and I look forward to an exciting year ahead in the markets.