If Rex Tillerson is confirmed as the next Secretary of State, oilfield services could see the playing field expand to Russia, presenting new opportunities for profit.
Oilfield services companies could benefit if the sanctions against Russia are lifted.
Stocks are slightly lower on Tuesday as oil prices fall.
U.S. exploration and production companies have put 107 oil and gas rigs back in operation since late May, after taking about 300 offline in the first half of the year.
Trade-Ideas LLC identified Forum Energy Technologies (FET) as a "dead cat bounce" (down big yesterday but up big today) candidate