With oil staying persistently above $50 and the TSX composite racing towards the 10,000 mark partly based on strength in energy stocks, this article in BusinessWeek.com takes the contrarian view that oil prices may be nearing a short-term peak. In my portfolio, I am lightening my position in Canadian Natural Resources (NYSE: CNQ, TSX: CNQ). CNQ has performed extremely well, returning close to 40% YTD and 150% overall. The long-term outlook for energy looks extremely good, but I want to take some profits from the recent gains.
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