I am the first to admit I am wrong on direction of the stock here.Iran refuses to sign and the Russians are never going to sign on to sactions an a country that is anti jewish.The Russians ,hate the Jews more than the Muslims, is what westerners fail to relize,and any one who lived through the cultural revolution in China is sure not going to sign on to sactions for Iran.The Chinese would like to see the Marxist,Lenninist state of the Jews turned into a parking lot,after 40 years of Marxist,Lenninist,Mao policies.Do not fool yourselves into thinking the Securiy Council is going to do any thing about Iran. So,I am wrong.This stock is headed up even in a down dollar enviroment.Oil up dollar down today.Which is it going to be a dollar weighted stock? Or an oil weighted stock from here? We are solidly over the 17.50 pivot point.Risk looks to the up side,and money flow is still negative but turning up toward zero.Go to bigcharts this weekend and check it out.
IMO, higher oil prices will hurt most energy stocks if you are looking at more than a very short period of time. If oil goes any higher, serious conservation will happen in the U.S., while at the same time the economy is damaged. OPEC knows this which is why they refused to decrease production last week. They don't want higher oil prices.