Energy sector coming back
Looks like energy stocks that are coming back. Just in time when technology stocks are about to correct. I just opened positions on SLB and XOM, but there are others like CVX, EOG or XLE index that works the same way. These stocks are correlated with oil price that also appears to start turning around.
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I have a big position on SLB, I also have calls already ITM. If it pulls back to the small blue line I'll buy more, but give them time, mine expire on Feb:
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Added as I posted previously:
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The long term support on Oil is holding up well. If the price breaks up the 75.5 resistance I think the next level is 90, this will push energy stocks to the upside. Still holding my positions and I plan to hold them for at least 6 more months. The pay me dividends and energy stocks need time to move:
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I sold covered calls on the fall. Now it's a good opportunity to sell CSP, strike 49 or 50 expire a month for now:
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I'm going to add very heavy (buying the stock SLB). I think it's done falling and now is going up:
