NEW YORK ( TheStreet) -- It's the beginning of March and spring is around the corner. It's time to do a recap of my top stocks picks for 2010 and it's a good one. While the Dow Jones Industrial Average managed only Monday to return to the level where it first started the year, posting a 0% gain, so far, my three stocks, Chesapeake ( CHK), Valero ( VLO) and Baker Hughes ( BHI) are up 8%, 81/2% and 20% respectively. Not bad, right? It's far too early in the year for a victory lap, let's instead try to formulate a game plan for these three going forward. Are they still worth buying? Let's start with Chesapeake. The natural gas company is based on the certain ascendancy of natural gas as our domestic fuel of the future. With new shale discoveries and technologies to access those deposits, it seemed a "natural" (excuse the pun) progression for this country to embrace natural gas as the obvious proxy for crude oil and its products for powering our cars and homes. By this time, I had expected Washington to have at least formulated a national energy policy, shifting our focus squarely on natural gas incentives. Not yet. Mired in partisanship on health care legislation, the Obama administration has had no time or inclination to tackle energy policy. Much of its talk on energy continues to focus on nuclear and "clean coal" technologies, avoiding natural gas for the most part. Still, the economics of natural gas will be impossible for Washington to ignore: It is a true no-brainer. I am sticking with natural gas as a big part of my energy portfolio. The question becomes whether Chesapeake is still the best choice in the sector. Aubrey McClendon, Chesapeake's CEO, has deeply hedged his exposure in forwards swaps, in essence capping the profits he can make should natty prices "catch fire" later in the year. He clearly believes prices can't go much higher, but I disagree. I'm looking for another natural gas play to substitute for Chesapeake that will have better potential if gas prices spike.
Next, let's talk about Valero. All of the conditions that made this refiner one of my top stocks stay in play three months later. There are continued shutdowns and historically low refinery utilization numbers, making a real shortage of gasoline more likely as the summer driving season approaches. Crack spreads, the measure of refining margins, have blown a bit recently, spurred as well by the Chilean earthquake. I think Valero and the other refiners have just begun to ramp and are still ridiculously cheap here. I'm buying more. Finally, let's look at the big winner for the year so far, Baker Hughes. The oil services stock made my list because of its aggressive move into injection technology with its acquisition of BJ Services last August, a move that Baker Hughes really needed to compete in the league of oil services powerhouses Schlumberger ( SLB) and Halliburton ( HAL). In addition, rig counts, the single most important metric of oil services' growth, were at historic lows. In the three months since my recommendation, rig counts have continued their recovery (a stat that Baker Hughes itself keeps for the industry), numbering 1373 in the latest count, up 18% since the end of December. Baker Hughes, and the rest of the oil services industry, is a recovery story and continues to be a compelling one. While I've got enough and not ready to buy more, I'm not selling either -- a hold. My top stocks of 2010 have been all winners, a good crop of picks. But right now I'm looking to change one, add to one and hold one. The lesson is to always be ready to reassess your portfolio, even if everything seems to be going well. -- Written by Dan Dicker in New York