Markets are caught up in a familiar "push me, pull you" action as the battle of narratives continues and people speculate on whether recession fears are going to push the Federal Reserve to pause rate hikes and reverse course.
You know where I stand - I've been saying for a while that barring some kind of economic calamity, the Fed is going to stick to its guns until inflation gets back down to that 2% target. But that doesn't mean that a rally is out of the question, at least for now.
Markets are closed tomorrow for Good Friday, and that's interesting, because the jobs report is also coming out tomorrow, and if the numbers don't look good, we could see a big push going into next week. I know that may sound counter-intuitive, but we're in a "bad is good" space right now - anything that makes it seem more likely that the Fed will get spooked and lower rates is a positive signal for the market.
My advice to you: enjoy whatever rally we have while it lasts, because the longer-term outlook is not great. I'll be talking about how to prepare for that in more depth in tomorrow's Total Wealth article, but today, I want to turn your attention to a sector that's brimming with opportunities right now - oil and gas.
Thanks to OPEC+ putting a floor under oil prices by cutting production, a lot of energy stocks are primed for big gains as long as demand stays high. On my live show this week, I reviewed a handful of your favorite oil and gas stocks: Baker Hughes Company (BKR), EOG Resources Inc. (EOG), Murphy Oil Corp (MUR), ConocoPhillips (COP), Pioneer Natural Resources Company (PXD), and several more.
To see how they did, just watch the video below:
Keep an eye on your inboxes for tomorrow's article, and we'll see you next week.
The post The Best Oil Stocks to Buy and Sell Right Now appeared first on Total Wealth.
About the Author
Shah Gilani boasts a financial pedigree unlike any other. He ran his first hedge fund in 1982 from his seat on the floor of the Chicago Board of Options Exchange. When options on the Standard & Poor's 100 began trading on March 11, 1983, Shah worked in "the pit" as a market maker.
The work he did laid the foundation for what would later become the VIX - to this day one of the most widely used indicators worldwide. After leaving Chicago to run the futures and options division of the British banking giant Lloyd's TSB, Shah moved up to Roosevelt & Cross Inc., an old-line New York boutique firm. There he originated and ran a packaged fixed-income trading desk, and established that company's "listed" and OTC trading desks.
Shah founded a second hedge fund in 1999, which he ran until 2003.
Shah's vast network of contacts includes the biggest players on Wall Street and in international finance. These contacts give him the real story - when others only get what the investment banks want them to see.
Today, as editor of Hyperdrive Portfolio, Shah presents his legion of subscribers with massive profit opportunities that result from paradigm shifts in the way we work, play, and live.
Shah is a frequent guest on CNBC, Forbes, and MarketWatch, and you can catch him every week on Fox Business's Varney & Co.