Have Oil Stocks Seen Their Peak?
Editor's Note: This is a bonus story from Gary B. Smith, whose commentary usually appears only on RealMoney
. We're offering it today to TheStreet.com
readers. It originally published at 8:26 a.m. EST today. To read Gary B. Smith's commentary regularly, please
Let's stipulate that we're all focused on oil right now.
Naturally, we'll beat this horse to death, with the only saving grace being that if it wasn't oil, we'd certainly be worried about something else. I mean if not oil we could fret about General Motors (GM), AIG (AIG), Fannie Mae (FNM), the "housing bubble" and any number of other issues.Still, I'm wondering if the fact that the energy topic is now making its way onto the cover of national magazines hasn't actually marked the top both for the commodity and the surrounding industry. As Jon Markman
A decline in energy stocks often presages a decline in the price of petroleum, as early-bird portfolio managers take their profits well ahead of news that the commodity itself has peaked.True enough, but do the charts match Jon's theory? See for yourself in today's "very special" Chartman, featuring charts for ExxonMobil (XOM), ConocoPhillips (COP), Sunoco (SUN), Murphy Oil (MUR), Kinder Morgan Energy Partners (KMP) and the (XOI) Amex Oil & Gas Index .
Charts produced by TC2000, which is a registered trademark of
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV