Monday, October 5, 2015

When oil prices fail to drop on bad news its a bullish sign

Oil holding near $45 a barrel in the face of bearish news is a sign that prices are poised to recover. 

“When there’s bad news and something doesn’t decline, it usually means it’s at a bottom and will be turning. Whether we’re at a turning point or not, I don’t know yet, and I’m watching this very closely."

"Some companies are stopping drilling and production is actually going down in the U.S. now. Shell is canceling some drilling. All of these mean supplies will be going down in the future.”

Opportunities arising in Agriculture 

“Agriculture is probably where the best opportunities are. I’m not buying rice and sugar at the moment but some of these things are down a lot from their all time highs. There’s potential opportunities out there.