I believe the bottom of oil market is right here around $57. Consider buying any of the beaten oil stocks, such as MRO, VLO, COP, or ERF, PWI for Canadian Royalty trusts, or oil-related index OIH, XLE.
One may wait for another pullback, or if you don’t have any positions, now is a very good time to add some into this market.
Remember to balance your portfolio with different sectors. Without diversification, you will simply be asking trouble (like me, , oh, well, just down 10% to 15% overall, 1 to 2 years of my annual savings, or close to an entire year of my salary. Hey, it’s just money. ).
P.S. I wrote this post in less than 5 minutes. Didn’t have much time to even catch my breath. Please see my comments for more details.