It’s no secret that Energy is the strongest sector on a cumulative basis…
This is the second time WealthPress Senior Strategist Roger Scott talking about the energy stocks on his radar this month! So we see a lot of profit potential here.
Call them “low-hanging fruit” if you will.
If you look at the Energy Select Sector SPDR Fund (NYSEArca: XLE), which tracks a market-cap-weighted index of U.S. energy companies in the S&P 500, you’ll notice it’s almost back to swing highs and showing resilience.
So, Roger, why is the Energy market holding on so well? And which energy stocks are on his radar, you might ask?
2 Energy Stocks on My Radar Now
Roger was studying the different market sectors over the past weekend — especially with blue chips taking a breather and tech stocks rising once again.
And he noticed that the Energy sector is barely moving lower compared to basic Materials and Industrials sector stocks, which have taken a beating.
Well, David Tawil, the president of big energy fund Maglan Capital, said he’s expecting an oil crisis within the next three years. And there’s more room for oil prices to rise both from inflationary pressure and a demand standpoint.
So the bottom line is simple: Traditional oil is a trend right now. And regardless of how you see it, prices are moving higher.
Tawil even expects oil prices to reach $100 per barrel before the end of 2021!
But we’ll have to see this for ourselves…
Check out Roger’s short video below to get the two energy stocks on my radar right now. And if you found this video and tickers helpful, be sure to share your thoughts and tell me why in the comments section.
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