Chowder:
“Energy is a go!
The time has come for me to start adding again.”
“I’m looking at the young folk portfolio which owns CVX, KMI and XOM.
XOM announces earnings the end of this month and the next purchase in that account is due the first of next month so XOM is what I am looking at first.
I’m actually hoping they cut the dividend because if they do, price is going to get a jump and the cap gains will more than make up for any dividends lost.
The young folk portfolio has time for XOM to build the dividend again in the event they do cut it now.
Having been through several boom and bust cycles in the oil service sector, a rising rig count has served as a leading indicator that a bottom was near or done and prices started to rise.
Oil service companies have done well since last Friday’s oil rig rise and they have risen again this week. … Time to go! If one wants energy exposure and wants to buy low, then they sure have that opportunity right here, right now.”