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Two Ways: Double Double, Another Oil Bubble?


Strengthen your portfolio in good times and bad.


Oil Supply Concerns

Declining investments in oil and gas production could cut future production by 8 million barrels a day. This according to a report by Cambridge Energy Research Associates (CERA).

A story in the Wall Street Journal says the worldwide recession and plunge in oil prices from their record 2008 high have forced many companies to delay projects and clamp down on capital spending. CERA predicts a "potentially powerful and long-lasting aftershock" setting the stage for another surge in the price of crude oil.

From the Bull Pen: Oil bulls can look to Transocean (RIG). One can set an initial position here, but a pullback to $60 could be another opportunity for entry. If and when.

From the Bear Cave: High oil prices make a tough environment for some refiners. Bears can consider Valero Energy (VLO) near $21 to $22 for a downside opportunity.

Quick Check Around the World

Asian trading closed with the Hang Seng 0.07%, India 0.45%, Nikkei -0.11%, Taiwan 0.08% and Shanghai 0.54%.

Glancing towards Europe, we see the CAC -0.91%, DAX -0.83%, FTSE +0.64%

As of 8:10 AM EST, S&P Futures are trading -10 to 816, and Nasdaq futures are -14 to 1259.

A Look At Commodities

Crude oil is trading -1.17 to 53.17. Gold is -13.1 to 926.90. Silver is -0.28 to 13.340, and copper -3.10 to 182.40.

The dollar index is +0.825 to 85.4350.

On the Radar


08:30 Personal Income -0.1%
08:30 Personal Spending 0.2%
08:30 PCE Deflator YoY
08:30 PCE Core MoM & YoY 0.1% & 1.6%
08:30 U. of Michigan Confidence 56.5

Eat up! It's Fat Friday at the 'Ville. Good luck and have a great weekend!

In memory of our fallen friend and trusted colleague, Bennet Sedacca, 100% of the donations made to the RP Foundation through April will be channeled to philanthropic endeavors consistent with the RP mission, working closely with the Sedacca clan in the distribution of those funds. We thank you kindly for your support as we strive to effect positve change in the lives of children.

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No positions in stocks mentioned.

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