Bakken Crackin?

Posted by bakkenexpert

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

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Daily Roundup (6/11/2008) – Relative Strength

Posted by bakken

Another dismal day on wall street with the DOW down over 200 points and most sectors in negative territory. However, XLE, the oil ETF ended up 0.86% in the face of the downturn and reinforced fears that oil will hit $150 before it hits $110. Bakken plays in general held their own with smaller players such as BEXP, NOG and KDKN up and some larger players like CLR and EOG slightly down. There was no breaches of 50 or 200 day MA in any of the stocks below and the uptrend appears to still be intact. Bakken stocks lives to fight another day.

			Change
NOG – ASE	$14.37		0.17 1.20%
NORTHERN OIL AND GAS
KOG – ASE	$3.38		0.14 3.98%
KODIAK OIL
CLR – NYQ	$68.94		0.35 0.51%
CONTINENTAL RESRCES
EOG – NYQ	$128.39		0.07 0.05%
EOG RESOURCES INC
BEXP – NMS	$16.14		0.26 1.64%
BRIGHAM EXPLORATN
KDKN.OB – OBB	$2.58		0.05 1.98%
KODIAK ENERGY INC
BSIC.OB – OBB	$2.40		0.31 11.44%
BASIC EARTH SCIENCE SYS INC
XTO – NYQ	$69.77		2.75 4.10%
XTO ENERGY INC

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