Energy Stocks Heat Up Like a Bull Out of Hell

It looks like a number of energy names are gripping, so the energy ETF, XLE, has started another move higher.
By Bruce Kamich ,

NEW YORK (TheStreet) -- In the past couple of weeks, we have recommended long positions in a number of energy names. It looks like a number of names are gripping, and the Energy Select Sector SPDR ETF (XLE) - Get Report has started another move higher.

It's great when the technical picture comes together. In this chart, above, we can see how the XLE rallied above the 50-day Moving Average and bounced off the average when it touched $65. The On-Balance-Volume (OBV) line has been rising for over two-months and the Moving Average Convergence Divergence is above the zero line. A rally to $75 on the XLE looks like it has started. It is time now to add to winning positions.

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