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Why This Former NYSE Trader Is Still Positive on Oil

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Kenny Polcari, managing partner at Kace Capital Advisors, joins TheStreet to talk about oil. 

One of his stocks to watch was Chevron, which reported earnings on July 30. 

Chevron said adjusted earnings for the three months ending in June came in at $1.60 per share, up from a $1.59 per share loss over the same period last year and four cents ahead of the Street consensus forecast.

“Second-quarter earnings were strong, reflecting improved market conditions, combined with transformation benefits and merger synergies,” said CEO Mike Wirth. “Our free cash flow was the highest in two years due to solid operational and financial performance and lower capital spending. 

But what does he think about the sector in general?

He notes that he's still positive on the sector overall, as of Wednesday, Aug. 4, when he joined TheStreet.

Watch the full video above.

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