Tuesday 2/11/2025
January 17 2025 we suggested the near term crude contract was too far ahead of the later contracts like Jan 2026. We suggested the near term contract would need to decline to be in normal relation to the distant contracts. This has now happened.
Note that oil did peak right at that time, 1/17 and then declined to 70.44. It has now resumed an advance rescuing my recommendations of RIG and PTEN. RIG is still really cheap at a third of book value. PTEN is trading at book value. I also like Newpark Resources NPKI. DIG allows you to invest in the major oil companies, it has corrected and it now taking off.
This market may be already a bit ahead of itself with weakness later this week, in that case pile in at that time.
A great time to buy Apache APA
Long Term APA
Crude oil prices at top, the MAs need tocome together but this is a slow moving monthly chart, it will happen which suggest a lot of upside.
Interest Rates
TBF is a bet onhigher interest rates, TNX at top is the ten year note rate, this is about to take off
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