Oil:
Bottom In!
Buy Now!
by Larry Edelson
Safe Money Report
When
Saddam Hussein capitulated to US pressure, the world breathed a sigh of
relief, but the oil market was pure gloom and doom. Crude oil plummeted
-- from $18 to $13.
In this environment, you always hear the so-called "oil gurus"
talking about the world's "excess oil supplies," especially the
huge amounts that are supposedly hidden beneath the earth's surface.
But
this oil is not available for consumption. And both OPEC and non-OPEC nations
are determined to jack up prices, in a unified showing of strength that
hasn't been seen since the oil shocks of the 1970s.
My
advice: If you have additional risk capital available, add these oil shares
to your portfolio immediately:
- Buy Asarco (NYSE ARC). Pay current
market prices and use a protective sell stop at $69.
- Buy Baker-Hughes (NYSE BHI). Pay
up to $44, placing a sell stop at $34.
- Buy Schlumberger (NYSE SLB). Pay
up to $82; protect the position with a sell stop at $68.
Editor's Note: Larry Edelson is an associate editor to Martin Weiss' Safe
Money Report, P.O. Box 109665, Palm Beach Gardens, FL 33410, 1 year,
12 issues, $148.
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