NEW YORK (CNN/MONEY) - Oil prices reached a record $42 a barrel on Tuesday, following a weekend terrorist attack in Saudi Arabia. Although the major indexes closed up, the S&P 500 dipped below its 50-day moving average during the day -- which some market watchers interpreted as a signal of a weaker market ahead.

Not surprisingly, energy stocks have been bucking the broad market trend. Most have been strong performers over the past six months.

Before you invest, however, take a clear-eyed view at the oil price outlook -- the price of crude could easily fall into the $30 to $35 range within the next year or two, which would doubtless hurt energy stocks temporarily.

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