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Energy Back Up As Dollar Weakens On Bailout Activity
One of the interesting side effects of the government bailout activity might be a return to the days where we saw oil reach new high after new high. In the last few days, oil has already rebounded and is currently above $120.
This is definitely one of the areas I am watching as my portfolio is still heavy in natural gas. Natural gas has been killed in recent months as the energy commodity prices corrected. The question is whether we will see oil continue to rise and increase to previous high levels. The short term rise in the dollar might be over which tends to help push energy prices higher.
I have written at length about energy especially as it has been declining. Chesapeake Energy (CHK) is one of my biggest holdings. I also mentioned recently that young investors should consider Chesapeake in their selection of a few stocks if they were going to invest five grand today.
I will definitely be watching energy. It could get interesting. Personally, I don’t think we’ve seen the highest highs yet. We’ll see.
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I agree, I think the energy prices are going to keep moving up and up. The thing is with this bailout plan is that no one in Congress wants to take ownership for this bill. I really think this plan is going to be in limbo over the next month or so and we are just going to the market fluctuate up and down based on pure speculation of the plan because no parties want to claim responsibility for the bill in the future, especially with the election. Just my thoughts and 75% of the time I am 100% wrong! Be easy.