Oil Is Oversold: Best to Buy Equities

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 |  Includes: DBO, IYE, OIL, PXJ, USO, XLE
by: TickerSense

On Monday Birinyi Associates distributed a research report highlighting the fact that oil is more oversold than any period in the last year. Based on our analysis, oil posts a gain over the next six months 60% of the time, and energy stocks are up 84% with an average gain of 6% across all periods.

click to enlarge

Oil 50-day spread

Oil oversold table
We were invited onto CNBC to discuss this report, click the image below to watch the clip.