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Blackrock Hints 'Big Oil' Has Bottomed

Investors hoping to get a jump on the market this morning would have discovered the deluge of SC 13G/A filings from BlackRock inc (NYSE:BLK). Plenty of investors holding oil related equities would have seen the filings. Some may have thought nothing of it. Others that have been conditioned to expect the worse may have panicked, thinking big money was taking profits from last week's oil rally before the beleaguered commodity resumes its crash.

Most investors probably didn't bother to check whether the amended position was for an increase or decrease, as they have already given up a price recovery for oil. Those that did compare, would have been pleasantly surprised to find that the asset management company did increase its position. Read more