John Zechner’s comments on energy, nat gas, crude oil
“market call tonite”
gold and energy stocks tend to run counter to one another
if so, HOU and HEU are current buys, and HGU is a “lighten up” or sell.
I don’t think i’d have the guts to be shorting gold via HGD, but the next three months
should prove strong for HOU and HEU.
come spring a rotation from HEU/HOU into HED/HOD/HGU might be anticipated.
12:55 to 14:15
crude oil is EXCEPTIONALLY cheap down at these levels.
emphasis on “exceptionally”
14:15 to 15:15
comments on gold stocks
they’ve been lightening up as gold stocks have significantly outperformed the market since november.
if the market recovers spring09 then gold stocks will tend to do the opposite for that period
“golds tend to outperform when the market is flat or falling”
“top picks”
2:20- 4:00
2nd top pick. pure play on crude oil. Currently oil is about $40US/bbl.
he feels the worst of the market is behind us (not necessarily the economy)
I believe we will have a surprise bounce to $75/bbl this spring followed by a re-settling through the summer09, back down to the
$50-60 area, at which point oil will work its way up slowly as the economy recovers in late 09 and early 2010.
7:45-8:15
more comments on gold
further commentary on the technical analysis of the price of crude oil
it was dated jan28th 09, with today’s setback in the price of oil,
we are back to the lower trendline (on the daily chart) so
$28US may be the floor on USO, and $7 may be the similar floor on HOU
my purchase price on HOU was $9 last week and a bunch more today at $7.50
$75US/bbl equates to approx $25-26 on HOU.
only time will tell.
yryzesuca:
yryzesuca…
brady quinn shirtless …
Posted on September 25th, 2009 at 3:58 am