It looks to me that we are seeing some panic, fear, or crowd following selling in oil equities. As well, commodities of gold, silver, and agriculture are getting hit.
Last fall I began to initiate long-term additional AIM programs in CVX and COP as retirement dividend plays to establish over next 10 years. I already had programs in BBL and EGY and within the last two weeks buy targets in BBL and EGY hit and I added. However, EGY I consider a flyer in comparison to the other 3.
As well, I initiated long-term positions in ADM and ETN as the correction has occurred.
What's going on currently in oil I'm beginning to think is becoming one of those rare opportunities in which might provide us little guys a big play at future profits. If oil gets below $20 I may very well overweight my portfolio for the short-term to advantage what I don't think will be sustainable levels. In my opinion, one perceived major geo-political event will turn oil prices around!
Comments?
Alton
