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
.. 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.
Negative-I don't know why you used quotes....but then say something like....those weren't my words. I called my position and where the level of resistance was. I was right and I PROVED to be right again. Shorted at 126 less than 2 weeks ago and covered at 118.09. If stock breaks116-118 it is going to go much lower. I don't care to be short over the weekend or any position. I find it more respectable who call their entry and exist points, and show consistency. Large capital, with proper market timing is effective if you know what you are doing.
I haven't posted since october 2012 --regarding chevron warning of a slide at the 112 level....and i was right as it slid to 101.00. i move into this stock and times and at times into others. you can very easily trade this stock trading this up and down. I don't mind that you are bitter. Stay in your stock collecting your dividend where you feel safe. Your support level is at 118. I will need somebody to buy back my shares :) hehe