XOM Update

You may recall Friday, Aug. 23rd I closed an XOM core short equity position and opened an XOM Sept. $85 call position .

If you look at the charts, not only was the character of price clear, but the 3C charts were exactly what I'd expect and this morning XOM is up at least 30+% as I expected this to bounce.

This is delayed so it's probably better than the +32% gain from today alone. For whatever reason this is the second time in about a week I can't get an order to go through on this platform, but I intended to take half off the table on the initial momentum, maybe add it back if the scenario was right and let the other half run as I think XOM ultimately has more upside, in fact probably quite a bit more.

 This 60 min chart and the appropriate size of the base makes XOM look like an excellent upside candidate.

The 30 min chart is leading as well. You should look at the original post linked above and charts, this way you'll see exactly what I saw at the moment.

The 1 min chart was lagging a bit so I thought taking initial momentum or part of it off the table made some sense, since we still have some longer term positives, I'd leave the rest to run.

The 3 min chart is still perfectly in line so I have no problem letting the rest run, as of now all of it will have to run.

If I do get a fill, I'll let you know.