I am not against xom, I OWN IT, but I hedged with 3 differrent options, I would love for it to go to 100 and call me away. I sold a little for spending money. What matters is the truth, and a blind man can see the world is in a global war when it comes to production. EGO yes ego is involved, Putin will not cut production even if his people starve and the Middle East has pride, they will not be pushed around by making more cuts, they have already cut while the west f-ed them and increased production. Great article in this months Fortune magazine. It shows all the new massive and I mean massive oil dicovered and ready to be developed. NO shortage coming.......The head of energy in Canada said they will not cut and may be developing an area that cost less to produce. MAN SEE THE LIGHT
One explanation is that Moscow can’t easily turn off the tap in Siberian oilfields, where it’s difficult to shut down wells during winter. “We are not Saudi Arabia, which has the ability to reduce production quickly,” Energy Minister Alexander Novak said this week.
What’s more, the Kremlin has been cushioned somewhat from the price decline because the value of the ruble currency has also fallen sharply. Even though the dollar value of its oil exports has fallen, their value in rubles has remained relatively steady, so the government can still collect enough oil taxes to cover pensions and other budget obligations.
And Sechin says that Russian oil companies are accustomed to dealing with sharp price fluctuations.
A report was just placed on my desk. USA has over 1500 wells producing less than 15 yes 15 barrels a day.
THE BIG producer are increasing production.
Iraq,Iran want to increase. RIG COUNT MEANS NOTHING. The number of barrels produced and the amount of inventory should take you out of denial. New major finds around the world will only put more pressure on price. Other than a black swan, alles ist gut fur xom 80
I will swear I have more shares to sell, I have 3 short postions in options, so I am just telling the truth, not talking it down. As things play out I may sell or hold, if positive news comes out I will report it also, and than take my short options off.
I stated when exxon was 87 the shorts will get killed, and I was right, it went right back to 95.
Once the shorts were cleared and the oil story got worse I went short.
One call is covered, the other call is nake, and the put was cash laid out.
biscuit I wil bet you your life savings you do not even come close to my holdings.
It is not a sin to sell, I fall in love with art and nature, not a company. The up-tick will only be a chance for the wealthy to leave the ship. A return price is still swimming in my head, perhaps..
Researchers have paired a solar-powered catalyzing device with genetically engineered bacteria to convert water and carbon dioxide into an alcohol-based liquid fuel. The system, dubbed a "bionic leaf," is described in the Proceedings of the National Academy of Sciences.
The process is modeled after the way in which plants use photosynthesis to turn CO2, H2O and other ingredients into energy, but with some novel chemical twists. One of the researchers, Harvard's Dan Nocera, has been working on artificial leaf systems for more than a decade. "The catalysts I made are extremely well-adapted and compatible with the growth conditions you need for living organisms like a bacterium," Nocera said in a news release.
The catalyst uses sunlight to split water into hydrogen and oxygen. Then a strain of bacteria known as Ralstonia eutropha combines the hydrogen with carbon dioxide to make isopropanol — which can be burned as fuel but is better-known as the main ingredient in rubbing alcohol.
Solar, ethanol, water, wind, now bacteria,,,, oil will be in trouble in 5 years.....
Iraq today said they will double production to pay down debt.
I will stage left and slowly over the next year sell down the familys xom, it has been good, but all things come to an end and fools get left holding the bag. Like horses, typewriters, steam and gas engine, wood burning stoves, change is happening at record speed.
Greece and europe on a collsion course and China is really slowing down.
I am not a pump guy, I say hold tight because the truth is, xom will hit 85 soon.
Not the end, markets and oil can turn around just as fast.
Still holding...One must be honest, only a pumper would say things look great.
When more world data comes in, more calls can be made.
The rsi is 53, far from over bought, I will say that xom's chart tracks identical to the Dow, if oil goes up and the Dow goes down, exxon will go down. It follows the Dow. (ge also)...
SO, the Dow's rsi is 54, not over bought or under sold.
SO, if the Fed raises rates soon, the Dow and Exxon will go down for a while, your call. I will hold on to my massive holdings of exxon(family trust) but I did sell calls when it hit 103, I sold the 100 calls for April, easy money upfront, I used half of that money and bought the 87.50 call today for 1.55.
Went ex today.
So, I will collect my div., I made money with my call, and if exxon goes down my put option will bring me even more money.
If exxon goes over 100 I will be forced to sell, mo money for me.
Trust and millions intact..
EXXONMOBIL : RBC RAISES PRICE TARGET TO $95 FROM $94; RATING OUTPERFORM
By Eric Yep
MADRID (MarketWatch) -- Crude-oil futures extended gains Tuesday, with prices rallying on speculation that a sharp decline in U.S. drilling activity will result in supply cuts.
On the New York Mercantile Exchange, light, sweet crude futures for delivery in March (CLH5) recently traded at $51.04 a barrel, up $1.46, or 3%, in the Globex electronic session.
Brent crude for March delivery on London's ICE futures exchange rose $1.93, or 3.5%, to $56.64 a barrel.
Both the global oil benchmarks have gained between 11% to 13% over the last three sessions, but market observers remain wary of the resilience of the latest oil-price rebound.
While cuts in capital expenditure and drilling will translate into slower non-OPEC production growth, supply may not be reduced in time to erase a projected global surplus of roughly 1.5 million barrels a day in the first half of 2015, Citigroup's futures analyst Tim Evans said.
The oil market is vulnerable to further declines without some tightening of demand-supply fundamentals to go along with the advance, warned Evans.