Bakken Crackin?

Yesterday and this morning, A number of Bakken Stocks are under quite a bit of pressure as an unexpected jump in the nation’s supplies of fuel and oil reported by the Energy Department fueled speculation that US demand is going to continue to drop and the oil bubble may burst.
In its weekly inventory report, the department’s Energy Information Administration said crude oil supplies rose slightly last week. Analysts surveyed by research firm Platts had expected a 1.7 million barrel decline.

In early morning trading, the XLE ETF is down over $2 and a number of Bakken stocks are facing intense selling pressure with many stocks off 5% or more. The next few weeks for Bakken stocks are going to be extremely volatile and we could see a trading range of 15% on these stocks. We are still bullish long term but are hedging here to mitigate risk. Remember that many of these stocks gapped up in a short time and may need some breathing room over the next few weeks. Investors will need to rely on good E&P news from the Bakken region to provide support.

Symbol	Last Trade		Change		Volume	Avg Vol (3m)
CLR	11:15AM ET	63.89	3.35	4.98%	560,824	1,468,790
EOG	11:15AM ET	125.50	4.95	3.79%	824,142	2,955,830
NOG	11:14AM ET	14.00	1.18	7.77%	382,696	535,466
KOG	11:14AM ET	4.51	0.05	1.10%	640,015	1,354,010
KDKN.OB	11:15AM ET	2.62	0.00	0.00%	54,970	257,956
BSIC.OB	11:10AM ET	2.56	0.15	5.54%	78,298	80,231.8
LEI	11:13AM ET	4.3001	0.1499	3.37%	48,355	158,489
XTO	11:15AM ET	66.17	3.92	5.59%	4,004,017	6,440,690
WLL	11:15AM ET	98.19	4.39	4.28%	193,786	883,147