Sweet 16 Update - October 21

[dan_s]

Another sideways week for the Sweet 16. Seven stocks up (6 in the "Elite Eight") and nine down. No real news to speak of, just the Bulls and Bears fighting it out.

Range Resources (RRC) is expected to report Q3 results on October 24. Then a bunch of them report on 10/31 and 11/1.

There seems to be a lot of concern over the gas/oil ratio in the Permian Basin. Pioneer Natural Resources (PXD) has already reported Q3 production and their crude oil production went up and their natural gas production went down. It may or may not be an issue, but once the Wall Street Gang gets a "FEAR" started they like to keep fanning the flame.

IMO falling OECD crude oil inventories should be getting the most attention.

I spent the day working on ONEOK, Inc. (OKE) and we will send out the profile in the morning. If you are investing for dividends then this one should draw your attention. If I had to rate the quality of this company on a scale of 1 to 10, it would get a "10+". It has been around for a long time, but their exposure to the growth in SCOOP/STACK is what drew my attention.

Keep an eye on the weather forecast for Chicago. Some real winter weather is on the way and that means demand for natural gas and heating oil is going up.