Crude Climbs to New Record

"Until someone can step up and adequately sell this market, it is not one that you want to be short in," Schork said.

Meanwhile, energy stocks are broadly higher in Tuesday's session. The CBOE Oil Index rose 1.1% to 766.14. ConocoPhillips (COP Quote) advanced 31 cents, or 0.4%, to $82.55. Exxon Mobil (XOM Quote) climbed 17 cents, or 0.2%, to $86.18.

Among ratings changes, Wachovia upgraded FPL Group (FPL Quote) to outperform from market perform, lifting the stock $1.10, or 1.9%, to $58.89.

Jefferies & Co. upgraded First Energy (FE Quote) to buy from hold, sending its shares up $1.31, or 2.2%, to $61.53.

Soleil upgraded CH Energy Group (CHG Quote) to hold from sell. Its shares rose $1.44, or 3.3%, to $45.04 on the news.