Why This Is Not The Right Time To Buy Energy Stocks
By OilPrice
If there is one thing that history teaches us (other than that we don’t learn from history) it is that following a drop as severe and rapid as this in the stock market and commodity prices, there will be some incredible opportunities once things start to recover. The energy sector has been one of the hardest-hit areas of the stock market, so it is likely that some of the biggest opportunities will be there. That doesn’t mean, however, that investors should look to rush in and buy energy stocks indiscriminately.
I know that after a strong three-day rally FOMO will be running high, but patience and selectivity are essential at times like these, and right now is not a good time to buy.
If there is one thing that history teaches us (other than that we don’t learn from history) it is that following a drop as severe and rapid as this in the stock market and commodity prices, there will be some incredible opportunities once things start to recover. The energy sector has been one of the hardest-hit areas of the stock market, so it is likely that some of the biggest opportunities will be there. That doesn’t mean, however, that investors should look to rush in and buy energy stocks indiscriminately.
I know that after a strong three-day rally FOMO will be running high, but patience and selectivity are essential at times like these, and right now is not a good time to buy.
In addition, if we look at the S&P 500 from an Elliott Wave perspective, things there look pretty bad right now.
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