I think a rebound is likely, because oil has come down so quickly. But with the
dollar showing signs of life and with gold declining, it is unlikely there will
be highs like we saw earlier this year. The Fed will raise rates in a few
months which will lead to further commodity decline. Sooner or later, the
market will begin pricing it in (you can argue that it's already starting).
--ssboy

a current avoid; wait for a rebound, if any, there's no hurry

The chart guy - Dan Fitzpatrick - was on again and this time he was talking
about finding a bottom in these energy names just like he did with the
financials. Look for higher lows as you follow these stocks. His video on this
ran this week. I have mixed feelings about everyone's theses: (as usual there
are many sides of the story) from an economic slowdown more severe than ours
happening overseas in various parts of the world to some bigtime players
unwinding huge holdings on both the commodities and the stocks of the
commodities, becasue for the longest time that was the only trade working in the
market. Let me tell you how I see it: just about the time you or I may throw in
the towel, this "correction" will be over and it will be time to buy.
So, I'm holding and accumulating - not a lot all at once because the consensus
is more downside to come. But I'm not selling. The time to sell was oil at 148.
I didn't, but probably should have taken some profits.

It depends on your time frame. Long term I like all the names. In my opinion
they are all oversold. As I'm learning (with some pain I might add) that the
market overreacts in both directions. With that said I'm continuing to buy CHK
during this drawn out pullback and kicking myself for missing FCX in the 70s
last week! I'm curious how the commodity news will be reported after the
Olympics, when China goes back to business as usual.