11-02-2017, 11:53 AM
(11-02-2017, 11:11 AM)EricL Wrote:(11-02-2017, 11:04 AM)divmenow Wrote: Added to HD and PM and Sold out of CVX
I like the HD and PM buy, but question the selling of CVX.
Oil is just starting to rise and recently hit $55. Storage is drawing hard in the U.S. and globally, which will lead to even higher crude prices.
CVX is also finishing up with some big capex projects that will improve cash flows and is also aggressively growing production in the Permian.
You held on this long, why sell now?
Was thinking the same thing. I've owned CVX for maybe a decade, and the oil majors are very cyclical. That comes with the territory, but usually works out great in the long run. If you are going to trade CVX, why sell at the bottom?