This oil pullback might be a re-charge. I can see where the airlines can get a run from it. Delta (DAL) reports this week and I expect it to be excellent. I have been waiting, however, for oil to go higher on a fundamental move and not on a short squeeze. This decline sets the stage for a move-up on demand, not just supply.
If China comes back on line, as the numbers from Golden Week would indicate -- and Europe keeps getting stronger -- then we will be able to absorb all the excess oil without going back to the $30s. That's key because many of the oils have corrected and held, and any price break would, I think, be a break for those who wanted to get in but didn't have a chance.
With rates staying low I am partial, first to the MLPs, which are starting to come back. I also like the higher-yielding oils. I don't want to buy any stock that has rallied more than 20% from the bottom until there is more of a pullback. But I do think the pullback is viable and the stocks should be bought Tuesday after a second day of a pullback. I fully expect a second pullback day because this is, alas, commodity land, with a mind of its own.