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You guys are all carried away with another bogus rally today??
XOM is at 60 now. I'll wait for it to swell to 61ish. And with the current state of the economy, and the DOW dipping below 10,000 at least once a week, I'll pick a day to short XOM.
It's not like the economy is going to add 600,000 jobs and wipe unemployment away in one week and XOM's gonna swell to 89. It's been swelling to 89 since April
It will get to 89 one day, but then I'll shave my beard 20 times
I can bet on my ar$e that it's going to run down to 58ish pretty soon. I'll make me some sweet money on the downswing and cover it, I'm currently funneling in funds, preparing enough margin money to short XOM soon. I was gonna accelerate it last night, but the moment I saw Asia rallying last night, I was pretty sure we were gonna be fooled by another rally. And there it is. The bulls will soon lose their balls and grow udders
Last edited by Currency Pair Crocodile; 09-01-2010 at 05:29 PM..
Reason: Added udders
If you do the opposite of what most people are doing in the market you'll tend to beat the average. Also, if you're having doubts about a buy or sell position with stock just go ahead and do options trading instead. You command way more leverage for a fraction of the cost. I made about 1,000% on shorting BP with put options. You'll never get that kind of return on stocks.
Thanks, dude. I've been thinking of options too. XOM, RDS and CVX will make for excellent options IMHO.
XOM is the largest publicly traded oil company in the world, and has one of the strongest balance sheets in the world, and you're going to short it when it's this close to a historical low? And on margin? All I can say is good luck.
S&P 500 showing signs of resistance at 1081 ...1095 ...1100.
The prelude to a "possible" great short opportunity.
Start Readying your clicking finger.......
Hear, hear
I'm tired of buying XOM and seeing them stagnate for months. They have been so bearish in the 55-63 range. After my little shorting gig, I'll at least be a bag holder for a few more months, starting with some shorting profit.
I think things are getting a bit expensive... A couple more bullish days then I plan on shorting some energy and financials. Just got out of a few positions after this great run (I trade on the TSX)
I change my outlook every single day though.
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