In the stock market, there are no bottoms or tops....the road goes on forever. You don’t want to try to predict the short-term future. If you see value, buy it.
Suppose I had no oil stocks and bought BP at $35. If it goes down to 30 after I buy it, would I be upset or panic? That is the test of whether you are qualified to be a value investor or not.
I’ve been buying BP from $39 to $35. I’m prepared to buy more. I had been accumulating cash for a year or two just for this occasion. Not necessarily energy, but whichever opportunity arose.
Oil has always been boom/bust, and I see nothing to change that in my lifetime. The busts are huge buying opportunities.