Joe Terranova Likes Energy Sector (XLE, DVN, CHK, PXP, XOM, XTO)
Joe Terranova is encouraged by Exxon Mobil (XOM)(FREE stock trend analysis) plans to acquire XTO Energy (NYSE: XTO)(FREE stock trend analysis). In his opinion this deal is an introduction for M&A in 2010.
Joe Terranova was not specific about which stocks he would like to own, but if you are bullish on the energy sector you can look at Energy Select Sector SPDR (ETF)(FREE stock trend analysis)
(NYSE: XLE)(FREE stock trend analysis). XLE jumped 1.01% today and it had a volume of $12.47M.
Jon Najarian gave his opinion on the energy sector too. He would sell Devon (NYSE: DVN)(FREE stock trend analysis) and Chesapeake (NYSE: CHK)(FREE stock trend analysis). Devon (DVN)(FREE stock trend analysis) gained 4.63% today, while Chesapeake Energy (CHK)(FREE stock trend analysis) advanced even further with 6.47% increase in the price.
Jon Najarian added that he would take long position in Plains Exploration & Production Company (NYSE: PXP)(FREE stock trend analysis). PXP jumped 2.74% on the bigger than average volume of $3.37M.
