Opinions
Bill Carrigan
BMO Junior Oil Index ETF
ZJO-T
TOP PICK
Nov 06, 2015
$15.360
Stock price when the opinion was issued
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COMMENT
High-return oil stock ETF’s?If think oil prices are going higher, this is the best way to get a high beta version. He is not bullish on oil, and expects it will be lower for longer. Commodity markets tend to be long trending and tend to move in long waves. Commodities, particularly oil, have become extremely oversupplied which kind of keeps a lid on the price of oil. He shies away from any oil investment right now.
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PAST TOP PICK
(A Top Pick Feb 25/19, Down 4%) The capital spending that occurred in the sector in 2010 was massive. The sector will be either soaring or sandpapering. They are in a volatile range. He is still sitting on gains in it because he bought it much earlier. It was deeply oversold. He is looking to sell it at some point but still recommends it. It's 80% in the US.
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As a proxy for the energy market, he uses Suncor (SU-T), which is starting to break out. If we are going to have global growth, energy is going to be involved. You can do stock picking or buy the basket, and it is probably a little safer to buy the basket.