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It's time to look at which stocks to buy when oil is low, now that crude oil is at levels not seen since 2009.
Money Morning Technical Trading Strategist D.R. Barton told viewers of FOX Business' "Varney & Co." today (Thursday) he isn't crazy about oil given the recent slide. But he also knows that fund managers and investors looking to diversify will be drawn to the sector.
"As a sector… I can't say I really love oil and energy relative to the rest of the market," Barton said. "But I know [there are] some people out there that have to put some money to work in energy, some institutional managers as well as some people that want energy in their portfolio."
That's why one oil giant stands out: Exxon Mobil Corp. (NYSE: XOM).
"If you've got to go into energy, Exxon is the place if you're going to go with a big oil company," Barton said.
That being said, the sector is also full of stocks to avoid.
To see why he's bullish on Exxon stock, and which stock you'll want to steer clear of, check out the video below.