Forget all that noise centering on the euro-zone debt problems and the possibility of
lawmakers failing to reach a debt ceiling deal by August 2, 2011. U.S.
Take a look at some of the biggest $ gainers today - Calfrac Well Services Ltd. (CFW) up $1.36 (+3.7%), Precision Drilling Corporation (PD) up $1.11 (+7.2%), Trican Well Service Ltd. (TCW) up $0.97 (+3.9%) and Total Energy Services Inc. (TOT) up $0.90 (+5.9%). Take a look at the recent new 52-week highs and you find the same names.
Now I am a bellwether guy in that I look for the behaviour of the sector leaders before acting on the sector as a group. When I see the oilfield services stocks on the move I have confidence the broader energy stocks – the oil & gas producers and the integrated big guys will follow. Now I know gold is the hot sector right now – but don’t overlook the energy sector. Our weekly chart displays some of the leaders – all just getting underway so there is still time to do some homework on the sector