NEW YORK (TheStreet) -- I was talking to Stephanie Link today about the relative weakness of the energy sector and whether there was any company I felt strongly enough to recommend right now.

I had to say no.

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Oil prices have continued to drift lower despite tremendous geopolitical pressures that should be moving the barrel price higher. And yet, it seems that the oil market is much more concerned with the relative strength of the dollar, a relationship I explained to Stephanie works as a trade relationship only and often fails spectacularly. I hate trading oil based upon the movement of the dollar.

But with that relationship at least now working in tandem, it's been impossible to own many of the very high-beta U.S. exploration and production companies that have made us so much money in the past two years. Stephanie mentioned to me that the Action Alerts PLUS charitable trust she runs with Jim Cramer shed its positions in many of its energy holdings including Occidental Petroleum  (OXY) , preferring to concentrate on the more bond-like yielders such as Royal Dutch Shell  (RDS.A) .

I could do nothing but agree with this strategy although I think the lower price of oil won't last very long. I still believe that oil is inexorably headed higher. When it does it will naturally benefit the higher beta names like Noble Energy  (NBL) , EOG Resources  (EOG) and Cimarex  (XEC) . I talked with Stephanie about some target prices for those and other energy stocks that I would find hard to resist, should oil prices continue to work lower.

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