- The two newsletter writers with the best track record of predicting oil market moves say the bottom is near, and crude prices should rise significantly in the next few years, Mark Hulbert reports in Barron's.
- Jim Stack of InvesTech Research thinks global oversupply will lessen in coming months, as U.S. drilling rig counts are down by more than half since late last year; technically, he is impressed with oil’s successful retest in March of its January low, and says the outlook will improve even more if oil remains above its March lows through August.
- Kelley Wright of Investment Quality Trends believes that, so long as the focus is on blue-chip companies with strong financials, the dividend yield is a reliable guide to over- and under-valuation; among blue-chip energy stocks he says are undervalued since their yields now trade near the high end of their historical ranges are XOM, CVX and SLB.
- ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, OTC:DWTI, DTO, USL, DNO, OLO, SZO, OLEM