Watchlist Addition April 4th:  Devon Energy (DVN) - Pullback to MA support after a high volume breakout a few months ago.  For an aggressive entry buy now.  For a more conservative entry wait until a break above the red resistance line at $73.00 for entry.  Company just announced they're increasing cap-ex spending by $1 billion for 2012.

UPDATE 4/10:  DVN broke below support on the broad market sell off today.  If you took the aggressive entry at the trendline support on April 4th you should have closed the trade for a small loss today.  Still a good long opportunity, but wait for a better setup.  I will be revisiting this one soon.

disclosure: no position in DVN yet.

Watchlist Addition April 3rd: Northern Oil and Gas (NOG) - Watching for a breakout above $21.25.  Notice the price compression on the hourly chart.  Low ADX reading means big price movement coming soon.  This is an aggressive trade because NOG is in a short-term downtrend.  But with the high short interest in this name it could get a nice short-covering pop.

UPDATE 4/4: Broke below support on weak broad market open and falling oil.  Breakout above $21.25 didn't happen, so no entry on this pattern yet.  Will keep watching.

disclosure: I am long NOG

Energy stock technical pattern watchlist for April 2nd, 2012

LNG:  Bull Flag- watching for a breakout above $15.00

UPDATE 4/3: Long from $15.10 and holding

UPDATE 4/5: Broke over $16 today and testing recent highs at $16.50

UPDATE 4/10: CLOSED LNG LONG TRADE @ $16.00

FSYS:  Bull flag- Buy the bottom of the flag now, or wait for a confirmed breakout above $28.00

UPDATE 4/2: FSYS broke below support today. Pattern negated.

WTI: 200 DMA bounce- stop under last Thursday lows.

UPDATE 4/3: Holding long, needs to move soon though.

UPDATE 4/16: Stopped out of this trade last week when it broke below support.

ROYL: Trendline and Moving Average support

disclosure: i am long ROYL at $5.09

UPDATE 4/3: Closed ROYL @ Breakeven- Time stop

Here's are a few long setups I'm watching today March 29th

CLR Pullback to moving average support.

UPDATE: Trimmed some profits today on CLR but still long May $85 calls

UPDATE 4//3: Closed May $85 calls

WLL Pullback to trendline support

UPDATE: WLL still displaying relative weakness.  Still long but watching closely

OAS support bounce

UPDATE:  Took profits on this one today as it entered MA resistance.

With oil at $105 it is surprising how weak oil stock are right now...  Directionless trading for over two weeks now...

Good Monday morning to you!

Here's what I'm watching today...

WLL for continued upside off Friday's strong 50 dma bounce...

NFX for follow through on Friday's strong close off a 52 week low...

SSN for a bounce off the 200 dma...

Disclosure:  I am actively trading all these names.

Mid day update:  WLL, NFX, and SSN.... yawn.

Not much going on today across oil and gas.  Dow up 120, and S&P 500 up 12...

Update:
CRK inverse head and shoulders with neckline at $17.00, looking for an upside breakout...

Disclosure: Long CRK stock

Big insider buying on WPRT at $44.30 last week- near 52 week highs.  That's a vote of confidence for the nat gas switch if I ever saw one...

CLNE is also at 52 week highs.  Already sold out for nice profits on this one, but now wishing I hadn't.  Waiting patiently for another entry...