Oil Doomsayers Were Wrong In 2009: 4 Reasons Why They Are Wrong Now | Seeking Alpha
This is a great article on the other side of the oil coin which says that oil prices will quickly recover. The author presented news that was different from what we have been hearing. Saudi Arabia could possibly reverse its rhetoric.
The article also showed a chart of oversold conditions on oil, and the graph also demonstrated that the price of oil recovers quickly from such scenarios. ERX, the 3x oil ETF, has already recovered from its low of $46 to $61 on Friday. The worst may indeed be over.
Moreover, two stocks that the author mentioned, MDR and WG, are already off their lows and rising. I am buying MDR Monday morning. So, it might be wise to allocate some money to stocks that will rise when oil rebounds.
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