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Energy Is The Name Of The Game

Adam Hewison - MarketClub

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Hello MarketClub members everywhere. Many large, well-known energy companies triggered major buy signals yesterday based on green monthly Trade Triangles. In today's video, I will be looking at three energy stocks tied to crude oil which also gave buy signals yesterday. There is still a little bit of resistance just above the market in crude oil, but I expect that to be taken out and for oil to move to the upside in the days and weeks ahead.

Here are the three stocks that I will be analyzing today.

Schlumberger Limited (NYSE:SLB): All Trade Triangles are positive.

Business Model: Schlumberger Limited supplies technology, integrated project management, and information solutions to the oil and gas exploration and production industry worldwide. Its Reservoir Characterization Group segment provides reservoir imaging, monitoring, and development services; wireline technologies for open and cased-hole services; exploration and production pressure and flow-rate measurement services comprising surface and downhole services; software integrated solutions, such as software, consulting, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; and petrotechnical data services and training solutions, as well as integrated management services. 

EOG Resources, Inc (NYSE:EOG): All Trade Triangles are positive.

Business Model: EOG Resources, Inc., together with its subsidiaries, explores for, develops, produces, and markets crude oil and natural gas. The company's principal producing areas are located in New Mexico, North Dakota, Texas, Utah, and Wyoming in the United States; and Canada, the Republic of Trinidad and Tobago, the United Kingdom, and the People's Republic of China. As of December 31, 2015, it had total estimated net proved reserves of 2,118 million barrels of oil equivalent, including 1,098 million barrels (MMBbl) crude oil and condensate reserves; 383 MMBbl of natural gas liquid reserves; and 3,825 billion cubic feet of natural gas reserves. EOG Resources, Inc. was founded in 1985 and is headquartered in Houston, Texas.

Occidental Petroleum Corporation (NYSE:OXY): All Trade Triangles are positive.

Business Model: Occidental Petroleum Corporation engages in the acquisition, exploration, and development of oil and gas properties in the United States and internationally. The company operates in three segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas. The Chemical segment manufactures and markets basic chemicals, including chlorine, caustic soda, chlorinated organics, potassium chemicals, ethylene dichloride, chlorinated isocyanurates, sodium silicates, and calcium chloride; vinyls comprising vinyl chloride monomer and polyvinyl chloride; and other chemicals, such as resorcinol. The Midstream and Marketing segment gathers, processes, transports, stores, purchases, and markets oil, condensate, NGLs, natural gas, carbon dioxide, and power. This segment also trades around its assets consisting of transportation and storage capacity, as well as oil, NGLs, gas, and other commodities. Occidental Petroleum Corporation was founded in 1920 and is headquartered in Houston, Texas.

Indices: The DOW (INDEX:DJI), S&P 500 (CME:SP500) and now the NASDAQ (NASDAQ:COMP) have all three of the Trade Triangles in a positive mode. 

Gold (FOREX:XAUUSDO): All Trade Triangles are positive. Take advantage of today's pullback and look for a place to get long gold.

Crude Oil (NYMEX:CL.K16.E): Daily and weekly Trade Triangles are green. Only the monthly Trade Triangle is red at the moment. Take advantage of any further weakness and look for a place to get long crude oil.

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