History says oil stocks will keep going up and this is easiest way to bet on it

The SPDR S&P Oil & Gas Exploration ETF jumped on Monday after the drone attack on Saudi Arabian oil facilities knocked out half of the kingdom's production.

Market history shows that the bullish trade in the ETF, which trades under the symbol XOP, may continue. Energy stocks were rising on Monday along with oil prices after the weekend attack on the world's largest oil production facility in Saudi Arabia forced the Kingdom to cut its oil output in half. The market repercussions were swift, with the S&P energy sector moving out of bear market levels. The easiest way to make a broad bet on a continued surge in energy stocks is exchange-traded funds rather than than attempting to pick individual winners in the sector. Recent trading history suggests the gains may continue. rose on Monday, with about 40% of the components moving higher by 10% or more.

In the past five years XOP has jumped more than 5% in a single trading session on 13 occasions. Two weeks later, the ETF typically adds another 3.5%, trading positively about 70% of the time, according to Kensho data.

Long positions for oil are way more than shorts. So, yes. I agree that.

Too bad it took so many lives in the process oil bloodmoney

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

U.S. energy secretary says oil market robust after attack on Saudi plantsThe oil market is resilient and will react positively to the attack on Saudi Ara... Does anyone else think that this attack could have been staged to force the US to go to war And the three departments I want to cut are... wait, who am I? Same thing they said about my Grandmother after her 4TH stroke.
Source: Reuters - 🏆 2. / 97 Read more »

Wall Street set to open lower after Saudi attacks; energy stocks surgeWall Street was set to open lower on Monday as the weekend attack on Saudi Arabi... Nixon froze gas prices---let that sink in simple but powerful illustration of the consequences. you can be a billionaire also in this way, i mean loosing much money. like i always say the business have 2 faces. destroy to rebuild, or invest to improve. anyway. if you want to find out who was behind the attacks maybe look at who made really big plays in energy stocks recently
Source: Reuters - 🏆 2. / 97 Read more »