One massive sell-off . I expect that because of being so over priced just chasing yield not fundaments. The big upside is over.Too much downside far out weighs any upside left. Time to take out these day trading games.
kopach....people that invest in big oil companies like chevron here or any of the other majors are big institutions and big mutual funds. Those are the owners of almost 100% of the stock. No insiders, no individuals. It is basically, America.....anyone with a 401k, and IRA, or the holder of a mutual fund. Energy is not going anywhere and never will. It is like saying people are going to stop eating....better sell your agriculture stocks now! Does not work this way.
Chevron will ebb and flow with the price of oil and gas....thats it. They have always paid a dividend and have always kept it the same or raised it....never lowered it.....ever. think about that. I bought this stock many years ago when I was a petroleum engineer and now get a nice check every 3 months....guaranteed. And as a percent of my investment, its huge in percent terms. And its taxed at the dividend rate of 15%....soon to be going up I heard this year. Guess its not fair that people like me who worked, saved their money, should pay more taxes on their dividends to support those on food stamps, disability, unemployement, welfare, etc...and support a couple of wars that seem to go on forever long after the bad guys have been killed. But I digress........getting back to your comments....you are simply wrong or have no idea what "big oil" is.......it America. Its you, whether you know it or not. Its not going anywhere.
You're a little crazy if you think chevron is overvalued here. In fact it's one of the few companies in this market that isn't overvalued. With a P/E of 9.26, a history of increasing dividends and consistent appreciation over decades, chevron is hardly over priced.
You're clearly short this stock. I'd be short the market in general (SPY) rather than CVX, at least the S&P 500 in genera is trading at inflated prices.