NEW YORK (TheStreet) -- I really love the energy stocks right now. I honestly do not know why they are breaking loose all over the place as crude oil prices moderate. However, it seems to me that ever since Janet Yellen was nominated to succeed Ben Bernanke at the Federal Reserve, it wasn't gold blasting off, it was the oil stocks.
Oil, like gold, is a commodity. It is an inflation hedge and it has an inverse relationship with the dollar, which has been selling off ever since the Yellen announcement.
Courtesy of StockCharts.comI may not have any idea as to what is going on there -- why all of a sudden a bunch of oil stocks are breaking loose. But sometimes I think it is better that instead of sitting there and scratching your head trying to figure out why you should just go ahead and pull the trigger and buy some great oil stocks, which I have already been doing. If you look at the model portfolios I publish each week in my newsletter, you will find a bunch of oil stocks. I wrote about the new sector on the leader board -- the Oil and Gas Exploration sector. I also featured the exact oil-related stock I am going to discuss next on my radio show when I first noticed it taking off (watch here). Data from Best Stocks Now App Over the past week Bonanza Creek Energy (BCEI) has been breaking out. The Denver company engages in oil and natural gas acquisition, exploration, development and production in the U.S. It is a small-cap stock that I own in my aggressive growth account here at Gunderson Capital Management. The stock has been hitting all-time highs recently. Why is it a Best Stock Now because it currently possesses the characteristics that I demand in the stocks that I buy. In fact, I am so demanding that 3,400 of the 3,600 stocks I track do not make the cut -- only a couple of hundred do.
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