Jan 7 , 2016

Jan 7 , 2016

I believe the markets are putting in key bottoms this week. That is why I think you are continuing to see price move down in both the indexes and oil.
      Well stopped for the second time this week in oil but I am still looking long my friends. I still see oil's fair value between 30 and 40 Dollars a barrel so I am still looking to buy. With sentiment getting worse and worse by the day this is the time to be looking to buy versus sell. January could still finish strong and if the Dollar begins to fall (which is might there is some wonderful buying opportunities in a variety of fields.
    Remember my friends Oil's collapse had more to do with the Dollar appreciation versus the OPEC nations or anyone else for that matter destroying the value of oil. Once again I am considering a BUY and hold strategy here for Oil. Is it a deal at these levels. I sure think so.
So where is Oil?
I have purchased Oil at the 32.30 level and the 32.80 Level. If it falls below 32.00 well I am out yet again. However I see a nice rally looming to at least 34 to 35 and perhaps higher.
I am also buying stocks at these levels in the DOW.