May 17, 2017

Doug Kass on Crude Oil buying opportunities

Recently crude oil prices have been volatile and has been declining. Last week's single day 4% decline, may have been an artificial decline, probably caused by hedge fund liquidations.

Also the impact of Crude Oil's price drop has had a negative impact on all Oil related shares. The XLE etf which was priced around $78 in 2016 is now around $67. 
Donald Trump and the new administration seem supportive of the energy industry.

At the moment, investor sentiment towards energy stocks appears cold and people appear to be shying away from the energy sector. Is now a time to be greedy when others are fearful ? Doug Kass thinks so, and he is buying energy related stocks. He is also planning to start a buying position in XLE.