What I Am Buying Today.

[fenders53]

(07-07-2022, 01:33 PM)divmenow Wrote:

(07-07-2022, 01:07 PM)fenders53 Wrote:

(07-07-2022, 08:45 AM)divmenow Wrote: Lightened up on some oil names this morning and add LIN, BEN, LOW and TD

I thought they were going back to ATH last week?.  You are a fickle one.  You might be smart though lol.  The market don't like them anymore.

The pumps will be lower by $1 come Sept. With $95 oil that would be around $4.10 at the pump. And now with Biden and the powers to be involved they will do all they can to lower gas while headed toward or close to a recession. The Biden cronies are the same ones that bid up the sector in the 1st place lol. And now that they are short the market look out. Wall St looks ahead. When it comes to oil it's not where it's at today but tomorrow.

Funds have been dumping oil and getting into the beaten down sectors that got overly punished. I look at the insider buying and selling. And the biggest selling by far is in oil and gas and other commodities like RIO and SCCO.

I am still in oil just trimmed a lot to buy other beaten down names. 

Lots of names on sale that may head lower of course. But this is a good time to take some initial positions.

HON is on my radar. May buy some before the close

Oil companies will make a fortune if you trim those targets 10%.  That doesn't tell us where the oil stocks will be though, other than the special dividends should continue.