Sunday, July 18, 2010

Oil and Gas Stocks

New 52-week highs list remain very thin. But of the few stocks that managed to hit new 52-week highs on Friday, majority of them were either directly from the Oil and Gas Pipelines Industry or in some way related to Gas Transportation or Gas Utility. Below are three stocks from the industry that I think have the best charts:

Ordinarily, I would not even be shaking my head at these charts as these stocks are clearly very slow movers. However, in the current market conditions with very few leading stocks forming quality bases, I am forced to take what the markets have on offer. Right now those are Oil and Gas Pipelines.

If the markets pull back near term, then these stocks could present some of the best short term long trades on offer. So keep them on your watch list for potential long trades in the near future.

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