Oil has not been this cheap relative to gold in 10 years, expert trader Jeff Clark writes in today’s Growth Stock Wire. He believes it’s time to go long oil.
The last time the ratio was this high, back in 1999, oil quadrupled from $10 per barrel to over $40 in just one year. A similar move this time will generate big gains for anyone willing to buck the trend and buy oil today.
So if you missed the shot at buying gold near $800 per ounce last week, then don’t miss your shot at oil right now.