re: Time to buy some XOM(Oil stock discussions)?

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COP

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They were trading in the low $50s after the split. Still for not buying a shite load and holding.

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Who has completely held off on big oil since last fall? I almost bought RDS at $56 the other day, but I bet COP and RDS will see $40s soon. I'm going to see what money I have in December and finally buy VDE or a major company (at the bottom I hope).

I bought Chevron (CVX) at 101/share a few months ago and have considered many times buying more but I think I'm going to hold off a little longer. I've been debating buying more CVX or XOM.

So happy I've held off on CVX and XOM to this point. If I would have had the money a few months back, I would have bought CVX at 102 and xom at 89. I'm sitting back as I think things go lower. My RDS-B holding is hurting. I may have to cost average it soon

I hate not getting a stock at a decent price, but I keep telling myself that it won't matter as much 30+ years from now since I'm just buying/holding/reinvesting dividends until retirement

Seeing a low 50s RDS price while I'm in around $70 hurts in the short term

I inherited 600 shares of Exxon back in 1993 .. At like $60-65ish. It's split a couple of times and then we sold some. Still have 1400 shares I'm holding on to.

Capitulation soon? I'm not entirely sure, but I'm not uncomfortable buying XOM at today's levels. I'm not going to do this though, I am going to try to time my purchase of additional XOM with a target rig count number. And I'm thinking we're getting close.

Sell something high to buy something low. If you already sold something high, you'd have cash to buy something low. Not busting your chops, but this is how I do it. I have cash on the sidelines from profits already taken. You never should second guess yourself by taking profits, especially since this market has run up hugely and there's been plenty of opportunity to ensure a percentage of cash in your portfolio. I guess in y case I also have extra cash due to VIX insurance having some claims made on it recently, so to speak. I don't think insurance is ever a bad idea either. But that's me.

Some dollar cost average. I have an automatic deposit that goes in to both my ROTH, and my trading accounts. It sits in cash until I sense an opportunity, and then I purchase in chunks.

I dollar cost average my dollars I guess, but not my investments.

And I'm so damn close to throwing XOM and CVX into my ROTH for 2015 right now. I need to just do it and be done

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FWIW, I've decided to follow T Boone Pickens philosophy on rig count, and that's my buy point for upstream oil. I think there is probably opportunity right now in down stream and mid stream, but I don''t know enough about it.

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I don't think anybody can even go by rig count any longer. US rig count was up 21 rigs last week with prices down below $50. A lot of these companies have massive debt piles and are forced to produce what they can to stay alive. I would watch production numbers from the US, Canada, Saudi/Kuwait and Russia as those are the only real areas that shown any increases the last several years in production. When some or all of those areas show production declines price might start to firm up assuming demand doesn't stagnate.