Oil Bears Have Lost Their Bite – It’s Time for Energy Stocks to Soar

by Greg Guenthner
Daily Reckoning

Nineteen measly points.

That’s all that separates the S&P 500 from topping its all-time closing highs. A routine move of less than 1% will get the Big Board over the hump—and it could happen as soon as this afternoon.

But not all stocks are playing nice…

The biotech sector rattled traders yesterday with another whipsaw session. The iShares Nasdaq Biotech ETF posted its fourth reversal day in a row, sinking to the red for the week and dragging the entire Nasdaq down with it. The culprit?

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