We just recently opened some XOM calls that are currently just about at a double digit gain. I believe intraday they are going to see that gain erode, perhaps in to the red, I will cover XOM in greater detail, but this is time sensitive. Since the calls are November, I feel there's enough time for this position to do well and there are VERY strong charts supporting XOM on the upside.
I just think it's a question of how you want to manage the position tactically, I decided to just stick it out as I can't be sure I'm going to get that much of a better entry is I closed now. Furthermore, the charts in XOM are so positive, it's like the AAPL situation, sometimes we get too fancy for our own good in trying to cut around the fat.
Charts are coming.
Is interest rates about to start going up?
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Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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