topher06 said:

---

I have sold calls on 50% of my shares at $110 expiring October 21, I fortunately repurchased the other 50% which were sold at $105. I'm debating selling 50% at $110 expiring in November, but may just wait until earnings because I agree that they will be outstanding and will likely be accompanied by a material dividend increase particularly as they bring on more production from that Guyana play. Exxon is in an amazing position right now, wish I had more money I could throw at it (being in O&G, I can't be too heavy in oil and gas stocks).

---

You gotta do you. I understand. I don't know who you work for and I'm not asking, but you have to ask yourself this question, do I see something material wrong or going bad in your O&G industry? If you don't, being heavier is okay. You don't have to keep a heavy position for a long time. If you have an ability to do a 3 month position, it's likely to be volatile and profitable through Dec. When those Russian Price Caps get forced into the market on Dec 5th, energy will get another boost. And, it's like a friend of mine states, Germans are the same people who walked all the way to Stalingrad and forgot to bring food and warm clothes. The mad scramble in Europe for all forms of energy is not stopping....soon...this winter....next spring...next summer....they got another problem next winter. The U.S. can support the crude oil market all by itself in 2023 just refilling the SPR.

I want as much juice as possible when selling my Calls and I think earnings or right after will do it. ALSO, I am hearing that credit agency ratings will be doing reviews and XOM is slated in the mix. If they can't upgrade XOM with $27 billion in cash and $12 to $14 per share earnings and buying $30 billion in share buy backs...something is wrong. XOM needs to be invited back to the DOW 30 and SalesForce needs to be removed. That will upset the apple cart, but too bad. Energy is a bigger piece of the economy. Think about that for a moment and how either, credit rating upgrade or a DOW 30 invite would effect share price. It would be great!

I had to step out for a couple of hours.

WTH sent the market from down 500 points to up 500 points in the last three hours????

It was you.

Yeah, without giving too much information I would say that about 60% of my investable net worth (excluding retirement) is invested in domestic oil and gas through my company so just can't increase the risk too much. Agree that nothing should be wrong with oil and gas, but the IRA's punitive fees for methane emissions shows just how quickly that a non-rational reason can materially impact the entire industry.

Completely agree with your thesis on Exxon, and I've kept up with Suriname/Guyana mostly because I was pretty heavily invested in Apache until I was forced to sell as a result of a divorce during the COVID times (still makes me sick what I left on the table there). Held on long enough to see those exploratory wells be huge successes and to get the COVID hammer, not long enough to get the price recovery (much less the price spike) or the success of the development wells.

I think everyone may be trying to overanalyze everything....

Market is oversold. CPI # was big event. Big event has passed. Not surprising to see some recovery. If this holds, I think we could get back to 3750 and close the gap from October 7th. That would also allow us to meet longer term moving averages (like the 21 or 34 day MA). Doesn't mean we saw any type of bottom or beginning of a bottoming process. Doesn't speak to Fed policy. Doesn't give clues on hawish or dovish stances. Price is just oscillating back to the average, for now.

Unless TQQQ stops trading at lunch... it's going to have it's largest volume day since multiple days in March of 2020

Feeling good that I was able to sell my 10/17 $355P for $8.50 this morn. Looks like it ended up being the high on the day. That timing was probably more lucky than good on my end.

Pignorant said:

---

FTAG 2000 said:

---

Why are banks running today? What did I miss?

---

Rising rates is fantastic for bank earnings.

---

For years, banks have been making minuscule returns on excess liquidity not loaned out. Now they make 3.25% on them and it will be 4% before the election.

JPM has $261 billion in fed funds. In 2021 they made $130 million in profit on that.
In 2023 they will make $10.4 billion in profit on that

It will increase their net profits by 15% on its own

Ranger222 said:

---

I think everyone may be trying to overanalyze everything....

Market is oversold. CPI # was big event. Big event has passed. Not surprising to see some recovery. If this holds, I think we could get back to 3750 and close the gap from October 7th. That would also allow us to meet longer term moving averages (like the 21 or 34 day MA). Doesn't mean we saw any type of bottom or beginning of a bottoming process. Doesn't speak to Fed policy. Doesn't give clues on hawish or dovish stances. Price is just oscillating back to the average, for now.

---

great to see you stop by... and of course dropping knowledge!

If we get 50 million shares in the final hour on TQQQ it will be 2nd highest volume day of all time.

My $2000 day could have been $300k at current SPX.

gougler08 said:

---

BREwmaster said:

---

irish pete ag06 said:

---

If we get 50 million shares in the final hour on TQQQ it will be 2nd highest volume day of all time.

---

call me crazy, but AMD looks like a better buy down here than TQQQ. a lot more room to run...

---

I mean that's a clear channel with a lot of room to run...

---

I'm thinking of OA's tweet from a couple weeks ago too. When tech rotation occurs, it will be a violent upswing, lots of money to be made.