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Oil stocks will be a screaming buy sometime between now and Dec. 31. Tax loss selling pressure will add to the pressure of lower oil prices, and some crescendo of selling will hit in the coming weeks, if not days. So where do I look to buy into this fear? I’ll tell you why I’m looking at Jericho Oil Corp. (JCO:TSX.V; JROOF:OTC) They’ve hit on a couple monster wells in the last quarter, validating all their acreage. They’re in Oklahoma, which enjoys some of the best oil prices in North America. And Encana’s $5.5 billion buyout of Newfield tells me the industry loves this play. All these producers will have a reflex bounce up come January—just from the mindless selling pressure of tax loss time ending. There is a "gimme" of 20-30% coming in early January. But I think you have to be analytical to figure out where The Big Winners will be. Pricing power has actually become A Big Deal for oil producers. Oklahoma is getting GREAT pricing, just $1.50/b off WTI. The Big Oil Plays in North America are suffering from severe price discounts. Permian producers got scorched early this year as the amount of oil being […]
