01-15-2015, 04:25 PM
Nice incremental buy on CVX and XOM! Just keep in mind what your definition of "too good of a deal" is. Last time crude was selling at this level in early 2009 CVX was selling in the $60's and XOM was selling in the $50's and $60's. There could still be a lot of air under the share price of each. Now if those earlier levels are reached again, IMO, that will really be "too good of a deal" to pass up! I'm looking at two good chances for continued strong downdraft. I'm thinking that the best chance of a steep sell off will come in October or September, as low prices really start to show up on quarterly numbers and we reach that typical shoulders season for crude prices.
Alex