It's time to take profits on the oil sector.
Last month, we told you there were more gains ahead for oil stocks.
We said lagging oil stocks – that started out the year in bad shape – playing catch-up would keep the oil sector moving higher in the near term.
The NYSE Oil Index (the "XOI") is up 6% since our essay. That's a terrific move in one month. But now it's time to cash out...
The oil sector has had a great run. But as you can see from the chart of the XOI below, the sector looks due for a break. (more)Please share this article