Monday, April 30, 2007
A quick look back at the oil picks
In my March 9th and 13th postings Oil is Hot and The Other Oilers I outlined a few companies that I thought would hit it big during the summer driving season.
Its only April right now and I plan to do another follow up around June and then into late summer as oil prices peak each year. Over the last few years, disregarding disasters like Katrina, June has been the true peak for oil prices on the commodity markest.
Nonetheless, increased prices and favorable company positioning has led my three picks, DO, NE and RDC up 14, 16, and 24% respectively. Not a bad return for just 45 days.
This is just a short follow-up to the picks. I am still holding onto all three. My options are up considerably but I think these stocks will continue the surge up until the summer demand ceases in June. I’d look to hold on throughout the summer, you won’t find a better yield anywhere else.