Do not forget that the Oil Service HOLDRs (OIH) ETF has been on a tear, and it can be heavily manipulated by options next week. I just don't trust oil here.

oil upside

These stocks are so strong -- as is Nordic American Tanker (NAT), which I think could have explosive earnings when it reports tomorrow, and maybe even a dividend boost -- that I pity the people shorting the Oil Services HOLDRs (OIH) and shorting the nat gas stocks.

"Of course, that means hedge funds shorted them and the Oil Service HOLDRs (OIH) as natural plays on this epidemic even as it seemed pretty extraneous -- which is why I pushed the integrated oils so hard here and on my show." ("Dining at the Oil Trough," 5-1-09)

"Plus, we crave some analysis that is positive here about the drillers because Baker Hughes (BHI) says that the rig count has been cut in half, and we know that natural gas has been cut by two-thirds, yet the Oil Services HOLDRs (OIH) is screaming." ("Oil Reports Are Slim and Slippery," 4-29-09)

Seymour is cautious however he says, "I think the oil services (OIH) names still have a long way to go."

3 Stocks I Saw on TV: Dan Fitzpatrick examines three stocks viewed on Fast Money. Today's stocks include Molson Coors, Oracle and Oil Service ETF.
Click here to watch the video.

I think that the Oil Service HOLDRs (OIH) is the thing to watch here. We have seen a huge move in the likes of Transocean (RIG) and National-Oilwell Varco (NOV). They have been ramping.

like oil now

Next week, we will see some first-class manipulation in the Oil Services HOLDRs (OIH) as we always do in expiration week.

With Oil hitting $134/Barrel and the energy stocks rolling over. I think this is teh start of the retracement. Love OIH, XLE, SU, XOM - ALL SHORT from Here, Like oil Buy VLO when the price drops as they more more money when the Crack spread narrows

OIl has to come down

Crowded trade

Great short when oil gets to $79-82 range