Wall Streeters used to think they were the "Masters of the Universe," now they are reduced to nothing. Biggest lesson of this debacle:
TRUST YOURSELF. NO ONE ELSE!
I'm up 2% today, and that's with DUG refusing to explode higher. Don't worry Exxon's days of mastering the universe will end in due time.Hat tip to RC for the chart...he and Brian Shannon have nailed this TA action perfectly lately.
2 comments:
Dug is over 1/3rd XOM
XOM is now over 5.2% of the entire S&P
if you had an agenda (keep S&P looking better than it is) you are sitting in the white house hitting buy orders on XOM all day. That said, the guy who normally does this was busy today getting kicked out of his office. ;)
XOM has over $30 billion in cash. They hardly got caught up in the oil price bubble of the past half decade. Do you really think that they are in trouble?
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