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John Manley from Wells Fargo talks about his liking energy companies. He says he doesn't believe oil prices will go as low as people are predicting. He also thinks oil will stay more expensive longer than people think, and that natural gas will stay lower longer than people think. He especially likes big dividend paying energy companies.
Myself, I would like to see a break in the longer term down trend in energy stocks before I would buy. The way I personally would play it is with the Horizons leveraged energy Exchange Traded Fund - HEU on the TSX. These leveraged ETF's are only for shorter term trades, so if I wanted to hold it for longer term durations I would likely use the iShares Energy ETF (XEG).
How is your energy level?