BOOYAH JIM

It looks like a flat close on the SPX and the DJIA but a higher one on the NAZ with the internals red (more than 700 losers than winners). So it looks like stabilization is the name of the game today and I think that is a good thing. Hopefully no one got in on the Vonage IPO as it closed down about 12% from its IPO price. Why someone wants to buy a company with diminishing margins, high marketing costs and tons of competition is well I guess to each their own.

Back to Jimmy, he recommended CVX on TV and COP on his site and I agree. However, I think the way to play is with the XLE ETF. The major components of XLE are:

XOM CVX COP SLB HAL RIG OXY

I think that is a good group to hold for a long time or a spike up in the price of oil due to some unforeseen event.