Week in Review: Energy Stocks Hit Hard
This week the energy stocks was hit hard with a little rebound on Friday. I suspect more downside for the whole sector. Retail was a bright spot this past week with many reported surprising upside. I like the group because no one expected them to report good numbers. Fed was also on the main stage last week with many Fed president warn about inflation and strength the case for further rate hike. Inflation watch will continue next week as the September CPI will be release this coming Friday. Earning season is also upon us. This will be an interesting quarter as the impact of Katrina will start to show on many of companies earning release or warn about the impact. For the moment, there are too many gloom and doom forecast about the impact of energy on the economy, so I would stat away from energy as a contrarian approach. But I’m still bullish on the sector for long term, especially natural gas.
It's not when you buy. It's when you sell!
