Greg Guenthner

Investors are drooling over stocks — and with good reason…

The market’s in full-on melt-up mode. Nine out of the last 10 trading days have ended positive for the S&P. It’s an awesome sight.

But there’s a big, sneaky rally happening right under your nose. Yet no one’s really talking about it — mainly because everyone’s so amped up about the strength of the broad market.

Here’s what you’re missing: Crude is quickly moving toward $100. In fact, crude’s gains have more than doubled up the S&P since the beginning of November.

Take a look:

Doubling of the S&P

Crude has rapidly bubbled up since the beginning of December. If it finishes this week higher, it will be Texas tea’s eighth straight week of gains.

I also took the liberty of throwing in some equally ridiculous moves from a couple of related stocks. Hess Corp. (NYSE:HES) is fresh off gains of more than 9%… just yesterday (bottom right). The stock is up more than 18% during the past five trading days.

If that’s not enough for you, oil services stocks are absolutely killing it. Check out Halliburton Co. (NYSE:HAL) posting gains of more than 25% since November (bottom left). Shares have taken only a couple days off since the start of 2013. After raising guidance in its fourth-quarter earnings report earlier this week, Haliburton gapped dramatically higher for the second time this year.

I find oil services to be especially intriguing since the sector has yet to break above its 2012 highs. Sure, we’ve already seen some big moves. But it’s still early.

So snap out of it, Clampett! Get to stalking your favorite black gold plays today…

Greg Guenthner
for The Daily Reckoning

Greg Guenthner

Greg Guenthner, CMT, is the managing editor of The Rude Awakening. Greg is a member of the Market Technicians Association and holds the Chartered Market Technician designation.

Recent Articles

Addison Wiggin
One World, One Bank, One Currency

Addison Wiggin

After the 2008 financial crisis, little could be heard over the deafening cries of "mission accomplished." And while the Fed's massive QE program seemed to work, the question remains: for how long? Addison Wiggin explains why the next round of QE will fail miserably, paving the way for the IMF to step in with something called "special drawing rights." Read on...


Who’s Really Profiting from Drone Tech and How to Join Them

Wayne Mulligan

Despite what you hear in the mainstream news, the commercial market for small drones could eventually dwarf the military one. In fact, it’s already happening. This is a big market, and it's getting bigger by the day. Today, Wayne Mulligan explains how to get in on the ground floor. Read on...


2 Simple Charts that Will Help Improve Your Portfolio

Greg Guenthner

While a traditional "buy and hold" investment strategy can be a good way to make money in the long run, it's by no means the only way. For those investors who dismiss technical trading as a "witchcraft" and impossible to figure out, Greg Guenthner has just two charts to show you that could completely alter how you feel about trading stock market trends. Read on...


Why America Needs More Tax Inversion

Clem Chambers

American citizens aren’t the only ones fleeing the country because they don’t like the direction it’s headed. Corporations expatriate for similar reasons. So why are companies desperate enough about corporate tax to leave the U.S., the champion of freedom and enterprise? Clem Chambers explains here...


Video
Floating Exchange Rates are Causing a “Race to the Bottom”

Kate Incontrera

Milton Friedman is roundly regarded as one of the great economists of the 20th century. But his view of the Bretton Woods system was all wrong. And the current mess of floating exchange rates proves that. Today, Lewis Lehrman explains how the current monetary system pits every country against each other in a financial "race to the bottom"...