(02-24-2020, 01:33 PM)vbin Wrote: Added small numbers in BABA, MMM, Rbs.b, XOM. Amrx( same story as TEVA).
Would like to hear thoughts on XOM from folks here. How safe is the div at this point. I am getting a little worri d about oil, specifically XOM. Trying to dollar cost avg at this point but I am already too deep at $68 in this. Div and option credits have helped to offset the losses so far upto certain points but seems like impact from crona virus slow down gonna take oil further down.
I don't think there is any near-term threat to the dividend. XOM is an aristocrat and they are still spending money on CAPEX. I also don't think there is much chance of oil prices rising significantly in the near future, and at the end of the day this will keep all oil stocks down. If you are in too deep the virus may offer some other places to look for value outside the sector.
Added a few shares of TGT and started a position in FUN. Also sold a put in PRU, ENB and FUN. That's probably it for today, but I am losing track. Market is going back up tomorrow right?
