Oil's Increasing Volatility
By
by Bryan Bottarelli
First and foremost, I'd like to thank all the readers who I had the pleasure of meeting this weekend at the Orlando Money Show. I enjoyed meeting you face to face -- and it's always a good experience to share investment ideas and strategies going forward.
Looking at today's action, Adam and I both agree that we have a tremendous opportunity in oil, and this thesis has been officially backed up with today's WOW chart indicators.
As I write, oil prices are more than $2 lower on news from Saudi Oil Minister Ali Naimi, who signaled that there will be no need for further production cuts or increases in supplies when OPEC meets in March.
Now, if you've been a Market Report reader for any extended period of time, you know not to believe anything that OPEC says, especially when the comments are making projections months in advance. We've seen it all too many times. Oil news like this can change on a daily basis -- which means that today's knee-jerk selloff could quickly reverse.
And to boot, Adam tells me that a big snow storm is headed for the East Coast, which could further support the case for a quick oil price bounce in the weeks and months that follow.
That's why my newest WOW play will once again be focused on the oil sector. Of course, this play will not get issued until tomorrow after the close, but I just wanted to give all you loyal WOW readers an early head's up on what you can expect in tomorrow's alert.
So once again, get ready to establish an upside position in the oil sector. You'll have all the details tomorrow.






