Oil Bounces Off $40

For the past week or so, we’ve been all about oil around here as our stock positions are doing well in the December rally.

Oil bounced hard off $40, the long-term support line we’ve been watching for some time now. We were hoping to see lower prices in the short term, but oil has come down far enough quickly enough to make moving sooner rather than later a smart bet.

It’s not too late to join this idea. Those along with it are finding that it feels good to put money somewhere besides stocks, especially when that somewhere is the world’s most basic commodity facing a supply/demand curve that has higher prices written all over it.

Wouldn’t it be nice for a change to benefit from higher fuel prices, instead of just suffering at the gas pump along with everybody else?

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