On Friday, January 26th, I wrote a journal entry entitled "Do You Like To Trade?". In the article I highlighted 3 energy stocks: Conoco-Phillips (COP), Valero (VLO), and Chesapeake Energy (CHK).
Being a contrarian, and slightly dyslexic, I tend to question most of what I hear on the financial channels, and take an opposing view. This has served me well for many years.
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If you are a trader, refer back to the January 26th article for my actionable advice. If you want to sell and take some quick profits, you can do it now. My quick scalp trades would be Valero and Chesapeake.
The only stock I would not pull the trigger on however is Conoco-Phillips (COP). I think you will see Conoco back in the 70's in the next few months. If you are an investor, I would hold COP through the summer.
In addition, traders and investors may want to consider buying the ETF inverse (short) funds on the major market averages. I believe the market may be putting in an important top for this cycle, and the funds I like to use are;
QID- ProShares UltraShort QQQ
DXD- ProShares UltraShort Dow 30
SDS- ProShares UltraShort S&P 500
These funds attempt to double (x 2) the daily inverse of their respective indexes.
