$XOM pumping did not age well on here.

SF2004 said:

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$XOM pumping did not age well on here.

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Really? I got around 90 in September after following Farmer's posts. Been selling CCs on every run past 115 and sold 2 rounds of 100P on these dips. Ping pong. My basis is down in the 70's by now. Plus the dividend x 3. I love this stock.

SF2004 said:

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$XOM pumping did not age well on here.

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Post and emoji not particularly helpful.

Swollen Thumb said:

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SF2004 said:

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$XOM pumping did not age well on here.

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Really? I got around 90 in September after following Farmer's posts. Been selling CCs on every run past 115 and sold 2 rounds of 100P on these dips. Ping pong. My basis is down in the 70's by now. Plus the dividend x 3. I love this stock.

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Same here

SF2004 said:

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$XOM pumping did not age well on here.

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would rather listen to that "pumping" than your never ending complaining

SF2004 said:

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$XOM pumping did not age well on here.

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This comment is b.s considering all the time Farmer spends explaining his oil thesis in length.

LOL at the $XOM sentiment. so many opportunities to make money off of that.

$30,000 Millionaire said:

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LOL at the $XOM sentiment. so many opportunities to make money off of that.

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Correct. I think we can all appreciate the advice that gave us a chance to make money. And while it sucks to be wrong and to lose taking someone's advice, we shouldn't disparage those who put themselves on the line attempting to make predictions, free of charge, that could benefit others.

But we also need to make sure we are viewing through all angles and not getting unrealistic.

Here's a weekly chart going back nearly 20 years.



In December of 2021 it broke above a downtrend that started in 2015. That came with heavy volume signaling confirmation that higher highs were coming. I've drawn two channels that represent the potential boundaries it has been operating within. The green one is based on lowest levels of support trending up since COVID, and the blue one is based on highest levels of resistance trending up since COVID. At this time, there are no steeper channels as this weeks action has broken support of the likely channel that would be steeper. That also happened to break the $105 support from the previous high in 2015 that was also resistance in June of 2022. So based on that, and based on previous long term support prices, I wouldn't be entering new longs until it either hits one of those supports and bounces, or breaks to new highs within one of the channels. If at any point it breaks below both channels, it's officially a bear market for XOM. As an additional technical detail, the 200 week EMA is included to show what I would consider last resort support for the time being.

XOM is chopping up and down yet furiously sideways on decreasing (potentially stabilizing) volume. EDIT TO ADD: This often happens at highs when price cant be pushed much higher. The next major weekly volume spike of 150M-200M likely signals smart money flowing out. So watch out for that. But due to volume being a lagging indicator, you will likely have already been punished if you wait for that to sell. The bottom will be much closer than the top.

You have to remember, a chart that looks like this shows you that if you aren't already in, you are at best going to be late to the party with likely limited upside (compared to everyone else). It's already been to ATH's recently. And it's far above support levels. While you can make money short term, the long term move already happened. Don't get stuck being the guy who buys when everyone else is taking profit. Find a chart that better supports long term profits and isn't as extended to the upside. Or wait for a logical entry point on XOM. I wouldn't disagree if you thought $100 was a great price. But what is your goal by buying there? If it's planning on new highs, then you have to know your supports and when they are considered broken. You have to be willing to win small and open to the possibility of a quick stop or a loss.

SF2004 said:

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sts7049 said:

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SF2004 said:

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$XOM pumping did not age well on here.

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would rather listen to that "pumping" than your never ending complaining

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Whether you like it or not politics and government impact market movement/sentiment a great deal.

Yet you cry any time some one disparages your boy Joey B on this thread.

Also, explaining why a stock is at a good price is fine but A LOT of times this thread devolves into "stocks only go up" so buy more even though it was over extended.

You confuse complaining with a bull**** meter and just smartasshattery in general.

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Dude, you're one of the biggest market is broken/news is terrible yet market is up/market should be tanking guys on this thread. Then you put out a "gotcha!" comment when XOM is down after a steady run. Come onnnnn maaaaan

Do you guys feel dirty when you're holding puts and watching it dump into close? Yeah me either

The market is being supported by the mega techs due to AI hysteria. When they rollover, it could get real ugly. Reminds me of the dot.com hysteria at the end of the 90's. A company that never made a profit could IPO and if their name was we****ingsuck.com, they would explode. That didn't end well.

Something got into $WAL AH but I don't see any news.

ETA: Found it

Quote:

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Western Alliance Says Deposit Balances Stabilized By Mar. 20; QTD Deposit Growth Exceeded $2B As Of May 12

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