The profit forecast was too conservative. Increasing geopolitical risks will keep oil prices high and boost the company's profit.

Companies' earnings are looking solid, and they are expanding their business activities.

If oil prices fall, it will help to stimulate economic activity -- the profit outlook will be better and also lower oil would bring down costs, making stocks the better asset class.

The companies stand to do some profit because the oil is already there. All they have to do is take it off the ground.

Most of their operating profit comes from the U.S.. Everyone's been hurt by rising oil and gas, especially smaller and mid-sized pickups.

There's been a lot of selling and profit taking — across all asset classes, actually. Oil is weaker, gold, silver, platinum and palladium are weaker, and base metals are weaker. It's just fed on itself.