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Is XOM running out of gas? Rate this Topic:
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riverbirch
Posted : Monday, May 8, 2006 11:33:52 AM
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Joined: 3/21/2006
Posts: 19
 Looking at the daily and weekly technicals, XOM appears to be running out of gas. TSV,MACD,STOC,RSI and BOP all seem to say this stock is near a top. I'm looking at the Jan 2007 puts. Do others see the same?
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jimstacy
Posted : Monday, May 8, 2006 1:34:40 PM
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Joined: 11/1/2005
Posts: 240
 I hope there not running out of gas, gas is too high already. I've been looking at it also.
there is a new down load for point and figure charts, it looks like a higher objective on p&f charts. like GM one should look at the techinals at the top and bottom of the trend lines.
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akqj10
Posted : Monday, May 8, 2006 2:53:21 PM
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Joined: 2/7/2006
Posts: 218
 hmm well xom has a triple top...been a little while since i seen one of those...if you look at the second top there looks like there was a nice wave of selling after that one...quite a few people were sure that was it with a double top...moneystream looks as if it went to bed after that...BP and foriegn majors are the only ones able to post new highs oil has went from 20 to around 80...profit taking has to come sooner or later...i would put oil trading between 50 and 60 a barrel at the end of the summer...
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HaveNoCents
Posted : Monday, May 8, 2006 3:09:24 PM
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Posts: 1,301
 If it drops below 61.00 it should be heading down to 52-54.
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akqj10
Posted : Monday, May 8, 2006 3:22:54 PM
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 the longer term puts look relatively cheap on xom quite a few people betting on upside...
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riverbirch
Posted : Monday, May 8, 2006 3:30:46 PM
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 XOM has 1.8 days of short interest which is 0.5% of the float-not much buying power here. Also buying volume seems to be drying up. Selling vol has picked up, also
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wwrightjuly4
Posted : Monday, May 8, 2006 4:23:35 PM
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Joined: 4/10/2006
Posts: 954
I see a potential here for a break out...all you need is a little more political rhetoric or just about any catalyst and its off to the races.

I would go long with a target of 75-80

stop out at 60.90 might go short if it breaks down.
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riverbirch
Posted : Monday, May 8, 2006 10:02:13 PM
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Joined: 3/21/2006
Posts: 19
 You could be right, that's what AAPL did in Jan.
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