Contrarian investing means going against the crowd, and nowhere in
the market today is there a crowd bigger than the oil and energy stock
naysayers. With West Texas Intermediate (WTI) crude oil trading around
$50 per barrel, there are headlines almost daily forecasting prices
moving into the $30s and even $20s.
With oil prices down more than 50% from their highs last summer,
energy stocks severely lagged the broader market for the better part of
the past year. It seems no one is interested in them anymore, but this
is the time when contrarian ears perk up.
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