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Exxon Mobil Corporation Message Board

  • traderpro2003 traderpro2003 Dec 1, 2008 8:27 PM Flag

    XOM: Why no price is cheap enough...avoid it

     

    lower lows and lower highs XOM will retest $56.51 and fail. i can smell it now. here's why...

    simply, there's no way Big Oil is recession-proof--not with cratering demand, massive oil glut of epic proportion, OPEC failed to cut production early, rising exploration and distribution costs, lack of demand for oil-related products (and services--reference Spitzer getting caught) and lastly no more cheap, endless supply of credit to fund high risk oil exploration at all costs to consumers. folks, anyone buying XOM above $35 is racing into a burning building. this will be a value trap alllllllllllll the way down.

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XOM
83.17+0.11(+0.13%)12:56 PMEDT