Ccutamu said:
Farmer @ Johnsongrass, TX said:
GOOGL sub $100,....anyone?
Farmer,
Since you popped in, what is your prognosis for XOM? It bounced off a trend line this morning so I bought back the Oct 105 calls for a nice 65% gain since Monday. Do you think it trends back upward to $100 before dividend pay date with oil taking a dive this week?
Yes, I'm expecting a move back to ~$100 by 9/9. XOM once held a tight price relationship to WTI, but appears that relationship is clearly broken for all the reasons I've been citing. XOM with their share buyback and the DRIP I see strong support at Div Payout. After Div payout 9/9 to the end of Oct, XOM could dump, beware. Once earnings are announced the last week of Oct and SPR releases halt the end of Oct, should be a wild ride up. If the economy tanks, energy sector (to some degree) will fair better than the rest. OPEC+ meets Sep 5th. Saudi is not happy right now. G7 is meeting on Friday to discuss Russian Oil Price Caps.......what a laugher........just think about it this way.....A European speaking here,......."We hate you. We're going to enact sanctions we hope will destroy your economy. We're going to send weapons to kill your soldiers. But you have to sell us your gas and at the price we want to pay." ...... If there's a more funny joke, I'm listening..