Energy stocks will fall more if oil prices pull back further.

The market needs time to digest the good run it's had. It's getting no help from oil.

Last month, the Energy Department almost doubled its long-term oil price forecast. That means gasoline prices will continue their upward trend. At the same time, the signs of global warming are clearer than ever. Simply by choosing the most efficient vehicle in each class, we could cut our average gasoline bill by $510 a year, while cutting carbon emissions more than 30 percent. So whether it's for your pocketbook or for the planet, there has never been a better time to buy a green vehicle.

It brings it back to oil. As long as energy is making new highs, Treasuries will rally.

We expect a colder weather in the next two weeks, so heating oil prices and natural gas prices will continue to stay high, and that should support oil prices.

It's easy to talk and say, 'We will look after it.' It's another thing to put some energy into it and get results. They don't put their money where their mouth is.