At Stock Traders Daily, we have officially recommended that clients take profits from their oil related trades. On Nov. 2, we issued buy recommendations on oil and oil stocks in advance of what we anticipated to be a blockbuster OPEC deal that would spur oil prices from bearish to bullish.
The observations were predicated on Saudi Arabia and the reversal in posturing that took place as leadership transitioned in the oil space, but even more precisely on the additional vested interest Saudi Arabia had in securing a deal to support oil prices.
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