Cover Shorts in Energy Names - Analyst

July 25, 2012 11:13 AM EDT
Technical analyst Chris Verrone, with Stategas, is advising investors to cover shorts in energy stocks. In the past 20 days, 40 of 43 stocks energy stocks have outperformed relative to the S&P 500, making it one of the best performing sectors.

Exxon Mobil Corporation (NYSE: XOM) is higher by 4.5 percent in the past 30 days and the Energy Select Sector SPDR (NYSE: XLE) is higher by 7.5 percent. SPY is higher by 1.8 percent over the same period.

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