Additionally, the Egyptian government has announced it plans to repay all debts to foreign energy companies by 2017, having previously said it would repay only half its debt. BP now plans to invest $10 billion in Egypt’s natural gas sector over the next five years.
The point is, there is usually a story behind the numbers if you look for it. Even if you can’t find the cause, you can always let price be your guide, particularly during stormy seas.
This commentary originally published in the Reno Gazette-Journal. Performance numbers used in this article were obtained through eSignal and are not guaranteed to be accurate.
This article was written by Laif Meidell, CMT, president of American Wealth Management, and portfolio manager of the AdvisorShares Meidell Tactical Advantage ETF (MATH).