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May 18, 2006
Merrill Lynch views on energy, Thurs., May 18, 2006, 5:08 PM
In response to a somewhat positive view I gave on the oil drillers and exploration companies a few minutes ago, I received the attached oil industry report from Merrill Lynch. The mail was entitled, "Another take on NBR and PTEN". Download May 15 ML file on the Oil Industry
I'm looking ahead when I say that there are some energy stocks I am looking into for purchase this quarter and next. I'm also on the record recently as saying I was cutting back from an over-weighted position because I saw a pull-back coming in energy prices.
For what it's worth, June oil is down to $69.50 from $72.75 on Friday, and Natural Gas (June) is below $6.00, as I write. So there is commodity price softness this week in this sector, as I anticipated (likely to continue through most of June).
The ML report covers a lot of ground (and ocean too), and presents a lot of data. Thank you.
Posted by Posted by Bill Cara on May 18, 2006 05:08:15 PM | Category: 10 Energy