NYSE:PXD Pioneer Natural Resources Company
This name is already extremely extended and if XLE does NOT get that extra push higher then there is a good chance that this name becomes the focus as it may be ready to have it’s pullback from here. That doesn’t mean that it’s not tradable if XLE does indeed get that 62 push, but the levels where this will be interesting if that is the case are much higher. If XLE pushes, then the levels I’m watching $PXD are going to be up around 213. Either way, I believe there is a big trade coming in these names.