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Chevron Corporation Message Board

  • irishpride877 irishpride877 Sep 27, 2013 5:20 PM Flag

    Algorithm Goes Short Chevron (CVX)

    Algorithm goes short Chevron (CVX)

    We don’t always like to go short, but when we do we love to short oil companies.

    Statistically, shorting is not the most effective way to profit from trading, unless of course you have a good trading algorithm like ours which picked up a STRONG pattern that has been profitable since March. This morning it generated a Sell signal at the open on Chevron Corp. (NYSE:CVX). Since CVX is the 4th largest weighting on the DJIA, which has a strong negative correlation with Gold, this signal dovetails nicely with our long Gold call.

    And why do we like shorting Oil companies? We are no fan of any company that’s in the business of stripping natural resources to deliver to an open market. Strong Short Sell

    Personal Note:
    .. I also know that Chevron has had somewhat weak growth in earnings per share. Fortunately the United States is having better communication with IRAN and Syria. Less turmoil in the middle east usually means lower oil prices....fueled by numverous questions of government shutdown and the question of raising the debt ceiling puts fears on our economy.

    Sentiment: Strong Sell

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108.00-0.32(-0.30%)May 5 4:00 PMEDT