This weekend Israel launched airstrikes against Iran without U.S. support, and energy stocks reacted to the upside. Chevron (NYSE: CVX) and Exxon Mobil (NYSE: XOM) rallied 3% in premarket on Monday morning, while ConocoPhillips (NYSE: COP) jumped more than 4%. I believe this could be the start of a rally in the oil sector. Take a look at this quote from Barron's... "If escalation against Iran leads to a disruption in shipping through the Strait of Hormuz, this could impact oil flows from the Persian Gulf... a significant disruption to these flows would be enough to push prices to $120 a barrel." This could be the time to start watching oil stocks. One company on my watchlist is Chevron. With the oil price disturbances, I believe the company could extend up to $160. But that's not all. Another stock I believe could go down due to higher oil prices is logistics and supply chain group C.H. Robinson Worldwide (Nasdaq: CHRW). Fuel surcharges are a component of freight rates, and higher oil prices could potentially impact them. If oil prices are headed higher, then a shipping company like CHRW could go down. Overall, CVX and CHRW are two companies I'll be watching for trades in The War Room. And starting next week, War Room Head Fundamental Tactician Karim Rahemtulla and I will be opening up our live trading room to all readers for FREE as part of our War Room Open House. This is your chance to get 5 straight days of free trade ideas from Karim and me. Don't miss out on this rare opportunity to join The War Room for free. Click here to sign up for The War Room Open House. Good investing, Bryan |
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