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CVX stock
Posted on 10/16/10 at 9:00 am
Posted on 10/16/10 at 9:00 am
I bought Chevron stock at $74.25 a few weeks ago. It's now trading in the $83-$84 range. Should I sell or hold?
Also thinking of buying Ford stock. Any opinions?
Also thinking of buying Ford stock. Any opinions?
3
Posted on 10/16/10 at 11:07 am to Jason9782003
What's your long term view on oil prices?
Posted on 10/16/10 at 12:28 pm to Jason9782003
If you have to ask, then it's probably time to take profits.
Posted on 10/18/10 at 7:54 am to Jason9782003
I captured the chart of CVX for the past year and drew what appears to be lines of resistance (floor and ceiling), fwiw:
CVX is a very good company and is well diversified throughout the world. There business model reflects the same diversification. Specifically, when the price of oil is above $55 they are making money. If the price gets too high (+$100) the margins get quite tight on the refining side but the production side always makes up for refining losses during the time of high oil prices. The price of oil is trading at sweet spot for CVX at the moment, IMO. Also, the weakling dollar is reflected in there price rise over the past few weeks, IMO. I've traded in and out of this stock but currently I'm not holding CVX. Do your own DD.
CVX is a very good company and is well diversified throughout the world. There business model reflects the same diversification. Specifically, when the price of oil is above $55 they are making money. If the price gets too high (+$100) the margins get quite tight on the refining side but the production side always makes up for refining losses during the time of high oil prices. The price of oil is trading at sweet spot for CVX at the moment, IMO. Also, the weakling dollar is reflected in there price rise over the past few weeks, IMO. I've traded in and out of this stock but currently I'm not holding CVX. Do your own DD.
This post was edited on 10/18/10 at 8:59 am
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