Wednesday, September 17, 2008

Oil on fire - play the coal

I said "Energy feels like it wants to rally." in my previous post. Mid day I thought I was early and maybe later this week. Supply numbers drove crude down. Then later in the day a huge rally. Right now oil is +6.6% and a lot of the coal stocks I mentioned are working back to green. The oversold ones look very tempting here.

One note: gasoline does not seem to be rally that much, but refiners holding up well.