Buy: Pogo Producing (PPP 51.81): strong upward trending action

Pogo Producing Company (PPP) engages in the exploration for, development, acquisition, and production of oil and gas in North America, both onshore and offshore, and in New Zealand.

The PPP chart as well as many oil stock names appear poised to move higher as expectations for higher crude oil prices continue. PPP's September bottoming process launched a rally to previous resistance levels in the $48 range .

Next price target: $54 area (April '06 high)

Other oil names with strong technical outlooks
include: SLB, RIG, NE, HAL, MRO, APC, DVN, APC.