This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

[video] Buy Energy Stocks on Crude Drop

Stocks in this article: OIL DIG USO

The video this transcript is based on appeared on November 25.

NEW YORK ( TheStreet) -- The Iran nuclear deal may be pulling crude prices down, but Greywolf technician Mark Newton thinks its a good time to make an energy play.

VIDEO TRANSCRIPT:

I'm Debra Borchardt and this is your mid-day market update. All the indices are higher on the green territory, a lot this is being attributed to the historic deal with Iran telling them you know what you gotta cut back on your nuclear stuff for about six months, but only six months so far as the deal. Well for now crude is down although it was down more yesterday in going to join me now as Mark Newton, he's the chief technician over at Grey Wolf.

Mark, crude's down right now but not a whole lot is that because you know it's only a six month deal is there a lot of skepticism about this deal actually happening?

I think there's a lot of skepticism about this deal we read about that the media throughout the weekend. Crude and both Brand and WTI are up from earlier lows around last night both have been trying to stabilize, particularly WTI in the last few weeks between us 92 in really 96 levels, sorta bouncing around. Brent crude is actually had a decent move to the upside over the last couple weeks so both of them have hit levels based on the entire decline from September that make it seem like it's time to only us heading into the winter and so that could mean that you know is a la skepticism about this deal that I probably won't pass I know both Republicans and Democrats are against right now doing any sort a major deal knowing that Iran hasn't really given up hardly any concessions right now.

So you know seasonally its right to take a look at energy commodities as you near the month for December heading into the cold winter season I both you know the entire complex has been beaten up pretty badly in the last few months and if anything the sector's or in a similar position they they've under-performed another starting to stabilize rally so if anything for investors are given that there could be there's a lot of skepticism about the deal on people expected to pass and coming into a winner energies is looking pretty attractive tactically and it looks like it's probably a better risk/reward then some these other sectors like consumer discretionary industrials at have already made their moves are now start install out.

Well on a course we know that Iran when they were and their prime they were the number two dealer now they drop down the number six it's gonna be hard for them to ramp up quickly. That's Mark Newton he is the chief technician from Grey Wolf and I'm Deborah Borchardt, from TheStreet.

--Written by Debra Borchardt in New York.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs