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Big block traders bet on oil sector favorites

 Oct 27, 2008 06:11 PM UTC
Return Risk
+4.82% MID
Tracked Blogger
Symbol Sentiment Start Return Closed
PTR Positive 10/27/08 +78.55% 05/08/09
DO Positive 10/27/08 +36.93% --
RRC Positive 10/27/08 +53.36% --
DRQ Positive 10/27/08 +166.75% --
WFT Positive 10/27/08 +45.42% --
TLM Positive 10/27/08 +124.38% --
NOV Positive 10/27/08 +43.41% 06/10/09

Graphic_arrow1 Via BloggingStocks:  

Filed under: PetroChina Co Ltd ADR (PTR), Stocks to Buy

"We sense a turn for the better coming in the oil sector," says Peter Way who tracks 'big money' investors for his Block Trader Oil & Gas Report. Here's his look at the "big block" traders.


"When we use the hedging analysis employed in our stock price forecasts, there are significant differences between some adjacent futures expirations. Here's the current picture:


"Front month (November) hedging suggests likely near-term higher prices. But the December contracts are likely to continue the past 3-month price decline - briefly.


"After that we could see crude rise over a few months into the $115-125 area or even higher, providing a bullish backdrop for most energy stocks. We sense a turn for the better coming in this sector.


"Several issues are selling at attractive prices now. Among major integrated producers, the standout prospect among the big oils is Petrochina (NYSE: PTR).

Continue reading Big block traders bet on oil sector favorites

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