Oil Will Ramp Again
Is the energy rally tapped out?
Energy shares, as represented by the Select Sector Energy SPDR (XLE) exchange-traded index fund, are down more than 5% since early September as the price of oil has skidded from more than $70 a barrel to less that $56. As a result, many market-watchers are proclaiming that the bull market in oil-pproducing companies is over.
Don't top off that tank just yet, says Tim Guinness, manager of the (GAGEX) Guinness Atkinson Global Energy fund. Guinness believes that oil prices are only taking a breather down here and are headed up to $85 a barrel in the next three years due to an increase in demand and a slowing of supply.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV