With the rise in the price of commodities, and especially oil, a lot of oil and gas related stocks hit new highs on Wednesday. Twenty of the 173 stocks in my universe of 4,000 stocks that hit a new high on Wednesday were in the oil and gas industry. Of these stocks, 5 were also on my cumulative IBD100 or New America watch lists : SPN, BGH, SXL, EPB and INT. All of these stocks have the important RWB pattern typical of launched rockets. A GMMA weekly chart of BGH appears below as an example. All of the short moving averages (red lines) are well above the rising long term averages (blue), with a white space separating them.