The stock of (CNQ) pushed substantially higher this winter, clearing major psychological resistance at $50, before pulling back in healthy-correction fashion.

Further, given the better than 50% gain, if you bought Canadian Natural Resources when first discussed here at the split-adjusted price of $31.80 on May 24, 2010, now may be a good time to consider taking some profits off the table with CNQ.

Canadian Natural Resources (CNQ) shares have moved substantially higher this winter, pushing through major, psychological resistance at $50, before pulling back in healthy correction fashion.

Moreover, if you bought Canadian Natural Resources when first discussed here at the split adjusted price of $31.80 on May 24, 2010, now may be a good time to consider taking some profits off the table.

However, those who can tolerate the risk can maintain their full position and go for an even larger gain, as CNQ remains well-positioned in an energy-hungry world. Canadian natural features balanced, low-risk assets, complemented by an oil sands production base.

Canadian Natural Resources (CNQ - option chain) stock is trading lower today after the company announced it has halted crude oil production at its Horizon oil-sands plant in Alberta, Canada, after a fire broke out in a plant facility Thursday. If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on CNQ.

This morning, CNQ opened at $40.61. So far today the stock has hit a high of $41.84 and a low of $40.42. As of 12:15, CNQ is trading at $41.15, down $1.95 (-4.5%). The chart for CNQ looks bullish and S&P gives CNQ a positive 4 STARS (out of 5) buy ranking.

The shares of Canadian Natural Resources (CNQ), first discussed here at the split-adjusted price of $31.80 on May 24, 2010, appear to have put in a bottom at/near $30, after meandering the entire summer. As a result I'm removing the stand aside view, and I think it's prudent to consider the shares again here.

CNQ's four-month dance with the key, 50-day moving average this summer was a danger sign, from a technical standpoint, but the calculation here is that at $36, the shares will likely not test $30 gain. Three plunges to about $30 held support, and the chart has formed a double-bottom.

Canadian Natural Resources (CNQ) has the assets an energy-hungry world needs. And its stock is worth a review.

Canadian Natural features balanced, low-risk assets, complemented by an oil sands production base.

CNQ's biggest project is its Horizon oil sands operation in the Athabasca oil sands region of Canada. The company estimates that there are 6 billion to 8 billion recoverable barrels available on this property.

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In his Block Trader Oil & Gas, Peter Way follows the big hedge funds and market makers to find out what they are doing. Here's a look at his top oil plays.

He observes, "The hedgers at the NYMEX are protecting their crude oil positions in ways that indicate they see continuing upward pressure on prices."

Based on this hedging activity, he states, "The outlook for the next 12 expiration months that the by major players at the crude oil table suggest little lasting price weakness, and a general level prevailing above $70 over the remainder of the year."

What are the best stocks to buy to bet on the trend for firm oil prices? To decide, Peter Way looks at the buying patterns of market makers -- the big boys on the trading floor.

From their positions, he notes, "Among the large oil producers, China's CNOOC, Ltd. (NYSE: CEO), Canadian Natural Resources, Ltd. (NYSE: CNQ), and Suncor Energy (NYSE: SU) all combine historically strong odds and payoffs."

In addition, he notes positive market maker activity among oil exploration & production stocks. He explains, "With significant quantities of low-cost reserves already found, and prospects for additional finds tied up, these companies inevitably will get acquired by bigger producers whose customer demands exceed their yearly reserve findings."

For many, he says, it's just a matter of time. Notable stocks in the stock, he adds, are Holly Corp. (NYSE: HOC), Carrizo Oil & Gas (NASDAQ: CRZO), Range Resources (NYSE: RRC), Southwest Energy (NYSE: SWN), Ultra Petroleum (NYSE: UPL), and Talisman Energy (NYSE: TLM).

For more stock picks from the leading financial newsletter advisors, visit Steven Halpern's free daily website, TheStockAdvisors.com.