2006-10-18 12:37:43 · 8 answers · asked by Tanya 1 in Business & Finance ➔ Investing
As a long term investment now is a good time to buy. If you are looking a year or 2 out, probably not. Oil may stagnate for a while or perhaps even drop somewhat more. But one has to consider the world climate. It is not real healthy. Oil is sort of a hedge against global instability. Not only that but if you own a large chunk of oil stock you do not feel so bad when gasoline prices go to 3.00 a gallon. In fact you will be rooting for 5.00 a gallon.
2006-10-18 15:39:36 · answer #1 · answered by Anonymous · 0⤊ 0⤋
I think now is a pretty good time to buy oil stocks. Many of them have sold off recently. October is usually a slow period for oil demand because summer driving season is over and winter heating hasn't yet kicked in, so oil and natural gas prices tend to be at a low point around now.
If you want to invest in oil, you can now buy an ETF, the symbol is USO, that tracks the price of oil. I also like Nabors Drilling, symbol NBR. I think oil services is a good place to put money, since it is getting harder and harder to find oil.
http://www.top10traders.com has a lot of good stock ideas. I think there are some good investors there that invest in energy stocks. Here is a link to a portfolio:
http://www.top10traders.com/ViewPortfolio.aspx?userID=8
This site lists out the best performing stock portfolios. You can also create your own portfolio with $100,000 in "play" money. The site is totally free. If you want to find out some investing ideas, just look at what the best traders are buying.
2006-10-18 23:27:01 · answer #2 · answered by jojo 3 · 0⤊ 0⤋
Oil should be part of your portfolio, as part of an asset allocation. If you dont have it in your portfolio you should add some, not a lot. No more than ten percent probably. Its very volatile. By itself I wouldnt buy it now, too much risk on its own. Inventories are high, its winter, prices are falling and will probably fall further. OPEC is cutting production and its still falling. Oil has been so high recently that it has to fall back. Its a cyclical business.
2006-10-18 23:18:09 · answer #3 · answered by jeff410 7 · 0⤊ 0⤋
Taking into consideration your age, assuming that you must be one of the ladies in the picture. I would say go for it. Don't invest in funds that involve Citgo though, as they are owned by the Venezuelan government. An oil ETF may work well for you if you are just starting the oil game. As as always, diversify your portfolio.
2006-10-22 17:50:23 · answer #4 · answered by Anonymous · 0⤊ 0⤋
NO! The oil inventories released today are too high and only Iran lauching a nuke at Israel will change the oil from 58 to $100. I cashed in on my XLE profit and not looking at any commodity plays the rest of this year.
2006-10-18 21:55:26 · answer #5 · answered by Anonymous · 0⤊ 0⤋
What is your experience in investing? Are you talking about commodities or oil stocks? You can always buy or sell (Short). It really depends what you think the outlook is going to be. You can be right selling short or be right buying long. Or you can sell options and let it be stagnate and earn the premium from a strangle.
2006-10-18 22:03:35 · answer #6 · answered by EAA Duro 3 · 0⤊ 0⤋
I think so. Check out the info on http://Energy-Investing.Org/
Many companies are reporting blow out earnings even with lower crude prices. Demand for oil continues to be high so this pull back has been a buying opportunity in my opinion.
2006-10-18 19:40:42 · answer #7 · answered by phx_oil 2 · 0⤊ 0⤋
Buy JDO oil, they are @ 5.10 a share and desitined to regain their 20/share they had last year
2006-10-18 19:49:13 · answer #8 · answered by vegasbrother99 3 · 0⤊ 0⤋