“Buy when there's blood in the street.” – Legendary 18th century British nobleman and member of the Rothschild banking dynasty – Baron Rothschild, in reference to buying assets when everyone is selling.
At a time when oil and natural gas prices have declined sharply, it also represents an opportunity to make a killing by acquiring good stocks at today’s depressed prices.
Oil Hits a Road Bump on Economic Slowdown Concerns, Swelling Inventories
After a strong rally in the earlier part of the year that saw prices jump more than 50% to a nearly six-month high, oil has encountered a speed breaker.
Last week, the commodity hit the lowest settlement level since January. The Jun 5 closing of $51.68 put WTI down 22% from its Apr 23 high of $66.30, officially meeting the definition of a bear market.