Oil Stocks
 

If I wanted to buy some oil stocks from an online stock site, which product should I get shares from and what site do you recommend? I am looking to buy maybe 1K in oil shares to hold until summer. I think oil prices are gonna rise big time this year.

Re: Oil Stocks
 

Weird Moses. I was going to post something similar yesterday! I will be following this. :tu

Re: Oil Stocks
 

There are many companies out there that will sell a small amount of shares directly. There are no fees and as a bonus you can have them reinvest the dividends and purchase more shares. A great way to build up equity in a single stock over time. Oil companies can be great however 2 yrs ago Exxon was at 95 it is now around 75. Occidental Petroleum was at 72 and today it is at 98. Hit or miss depending on the stock. Good luck.

Re: Oil Stocks
 

What about BP? Their stock is down from last year and looks like it has room to grow considering where it was.

Re: Oil Stocks
 

The time to buy BP was about six weeks ago when it was in the mid 30's. Now it's in the mid 40's. Still some room for growth there.

Exxon is in the mid 70's and I am not sure it's going to do much in the short term. Conoco Philips in in the high 60's and it looks pretty good on SharpCharts (www.sharpcharts.com).

I invest through TD Ameritrade. My 401k is there and is therefore convenient.

BTW, my crystal ball is PERFECT :r

Re: Oil Stocks
 

I was savy enought to jump on BP back in the summer when they were taking a beating. Purchased 500 shares at 27.08. Today, opened at 47.31.:noon

Re: Oil Stocks
 

You can also look for an oil ETF. I have a buddy who is very big on Direxion ETFs, but they don't have a pure oil one. They do have a triple beta energy fund that is 70% into non-renewable energy. It's ticker symbol is ERX. I don't know anything about it, so please research it first.

That being said, I highly recommend an ETF as it is an easy way to diversify.

Re: Oil Stocks
 

Personally I've been putting a little money into USO lately. It's an oil ETF. The price rises or falls strictly based on the price of a barrel of oil.

Marginally better than playing a slot machine. :r

Re: Oil Stocks
 

Take a look at some natural gas stocks. With the push for clean energy, gas prices should go back up. :2

Re: Oil Stocks
 

USO is my choice for an oil ETF. Moses, have you considered oil refiners?

Re: Oil Stocks
 

If only I had taken my own advice...
http://finance.yahoo.com/echarts?s=E...urce=undefined

Actually, I did place a limit order, but it never hit my buy price. Doh.

Re: Oil Stocks
 

Those oil stocks sure look promising don't they. We will see record/near record prices on oil by summer time. If you're getting it in the rear at pump, might as well prop up your portfolio along the way.

Re: Oil Stocks
 

USO has been up lately, but it isn't consistent with crude's pricing.

caveat emptor!

Re: Oil Stocks
 

I own some shares of the ETF "OIL" which I bought under $19 per share. They are now trading in excess of $25 per share. Not as big of a gain as individual company stock, but still a gain with less risk (at least that's what I think).

Re: Oil Stocks
 

My understanding about USO is that it is a partnership and taxes are due on your portions of the partnership annually - its not a standard ETF per se. Unless, of course, things have changed since I first looked into it.

Oil futures are unpredictable, and when it comes to commodities I like to invest in things I can hold or take delivery of.

Stock picks are a good bet nowadays, but an increase in the price of oil will not always mean an uptick in stock price, as the refiners costs increase along with all of ours. I personally think big oil is undervalued overall though, given world demand for the black goo.