>> Myself, I wish I had some extra cash lying around to buy oil production stocks.
Ditto. There’s definitely bargains out there...
For example CAT & XOM both are trading in the 70’s after Thursday and Friday... both were already down from the oil price decline.
Each of them throws off a healthy dividend, currently 4+%.
Both companies will be around for a long time to come, I’m betting.
You’ll most likely see XOM in particular trade down at least another 10-15% by year end. Oil is a catastrophe, and happening this time of year, these cos IMHO are simply going to be sold down into year end as tax harvesting sardines. Maybe not so much CAT; even though I watch CAT I am not tuned into it right now but DE, its sector compadre, got fricase’ed the other day, -7 points.
One could nibble on these things in this turmoil but it is not safe to put meaningful money to work *quite* yet.
My .02