I really do need some energy... I was sick most of last week. The energy I am referring to is the Energy sector. A lot of energy stocks made big moves on Friday despite the overall market being a bit quiet. These stocks have moved sideways for a few months, but now they seem to be breaking out. Not just any energy stock will work. Some patterns look pretty bad. The ones I like are CLR, FCX, CF, and DNR. I am cautious to recommend anything right now because of the overbought market conditions (see previous blog postings). Look to see if the market can break this resistance or if these stocks continue to move up despite the market moving down. I like MS...but not really any other financial stocks right now. I also like SOHU (which could move up because of the high short interest), but it would be a riskier pattern since it has moved up pretty strong over the last two days.
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