5 Winning Oil Stocks to Sell Now

3 cheap, recession-busting stocks!

Oil Stock #3
Diamond Offshore Drilling (DO)

Drill baby, drill, was the calling card of the Republican Party during the last Presidential election.

With high oil prices and rising demand, finding new sources of oil is imperative. Given environmental concerns, offshore drilling
is one space that still offers meaningful potential to increase domestic supply.

Diamond Offshore Drilling (DO)
operates some 45 deep water rigs that are keeping extraordinarily busy, with oil prices on the rise. The stock is up more than
46% this year, given the value of current contracts and speculation that more drilling may happen in the near future.

But more drilling may be wishful thinking considering the position of the new administration. If oil prices fall in the near
term, much of DO’s gains this year may evaporate quickly.

There is no shame in locking in profits, especially considering the fragile state of the global economy. I would sell DO here.

NEXT: Oil Stock #4 – Yanzhou Coal Mining (YZC)