No Wonder Energy Stocks are Doing Well
Mar 11th, 2008 | By Brian Hunt | Category: Stock Market InvestingIt’s nearly impossible to find an asset that hasn’t been plagued with bad news and falling stock prices in 2008.
You can’t find shelter in big blue chips, as new lows for Goldman Sachs, Novartis, Intel, and General Electric tell us. The market can’t stand the thought of a company within a hundred miles of a loan or credit line. Real estate, retail, and utilities are struggling as well.
And what about the “glamour” stocks?
Well, it gets no more glamorous than Google, Starbucks, and Whole Foods. Each company is wildly successful, has a fantastic brand… and is down more than 35% from its yearly high.
One sector still humming along is the energy complex. With crude oil trading at an all-time high, it’s no wonder oil and natural gas stocks are holding steady. Since January 2007, the world’s most obsessed-over commodity has gained more than 100%.
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