Due to the recent OPEC news, I expect further downside in oil and gas stocks temporarily. Given that I am becoming more bearish, I am looking to add some dry powder to my portfolio. While we are down on the First Trust Natural Gas ETF (FCG) I am selling half of the position with the express intent of using that money to buy oil and gas stocks in the next few months. It is important that money is allocated for that purpose to take part in the inevitable rebound in the sector. I am going to pick several more companies to focus on from the updated “Last Great Chance to Buy Oil and Gas Stocks” report that I have held for this weekend. You can look in the forum for some charts I have already posted.
I am selling half of my FCG position. I anticipate buying individual oil and gas company shares in the next few months to replace this holding.