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Making ¢ents out of the senseless Capital Markets
Oil … Possibly the Story of the year?
Oil, or the price movement of oil, is turning into an interesting topic. After bottoming at $26/barrel in February of this year, it moved briefly above $50/barrel.
How about this rollercoaster ride ? Well maybe parachute jump would be more accurate…
Now the bounce back to over $50! Wow!
What about this move down in Rig count? Capitalism at work!
What we suspected throughout this cycle was the trickle down effect from the Energy sector and especially the peripheral feeder vendors was greater than many thought.
The terrific success of US drillers (see above massive increase in rig count) may have created a greater positive than many understood during the boom time. When the bottom dropped out of prices … well the negative may have been greater as well.
Could be a much needed tailwind??? … time will tell !
Have a Great Day!
John A. Kvale CFA, CFP
Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.
www.jkfinancialinc.com
www.street-cents.com
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Posted in Earnings, Forecast, Investing/Financial Planning, Market Comments
Tagged Baker Huges Rig Count, Crude, Oil, WTI