Energy complex repriced for mid 40's oil.

It's important to read the opposing viewpoint, like this one. I thought energy would do very well this year. I didn't realize it would do something like +20% in two months. Tough to figure out whether and how much to let go here.

I think that latest move where the stocks went vertical was a repricing of the whole energy complex as people got comfortable with oil staying above $35, and thus gave every company credit for a 33% rise in revenues. ($35 + $11 = $46, somewhere in the mid 40's may be the price of oil for this year)

Imagine if Intel or Dell came out and said it can sell everything in it's inventory and everything it could make for the year for 33% more than it thought!

I saw an add in the paper this weekend where Dell is offering a nice PC with a flat panel display for under $500. Do I really want to own even the most efficient company in a field where the prices appear to be heading relentlessly toward zero?

In the short term, Jim Cramer on his radio show yesterday called for a rotation from energy to tech, likely to last a few weeks.

I also ran across an interesting trading oriented blog, Alchemy of Trading, where the writer is trading oil stocks among other things.