This Oil Stock is a Buy
Dear Profit Takeover reader,
Oil has dropped…
XOM – Exxon Mobil Corp – was around $81 this morning…
We are seeing a little recovery today on some names like XOM however…
As I have mentioned before, any move under $80 in XOM is a buy.
We might be seeing the current low in oil.
In the Profit Revolution, we are sitting on some calls in BP
When it comes to oil names, I haven’t been wrong yet…
In fact, all my oil predictions have come true so far…
Click HERE to find out how you can join me in taking profits in oil names during the Profit Revolution shows.
Until next time,
Mark Sebastian
Founder, Profit Takeover
VIX LIGHT
Today is the day that my VIX traffic light finally switched to red.
Barclays announced they plan to file to reissue shares of ETNs OIL and VXX.
This could cause the premium in VXX to evaporate quickly.
In addition, two new VIX ETFs are launching tomorrow: UVIX and SVIX.
UVIX is double long and SVIX is the inverse of VXX.
was at 19.35 this morning…
Image from Yahoo Finance
I said yesterday that VXX would get below 25 by the end of the week, and it was already at 24.3 this morning…
Image from wallstreet.io
I can’t wait to see options on SVIX this week –
And I’ll be paying close attention to VIX futures.
LIVE SCHEDULE (ET)
Wednesday 3/30: 10:30 am – 11:30 am Profit Takeover
Thursday 3/31: 11:00 – 11:30 am Foundations of Trading Preview
Friday 4/1: 9:30-10 Profit Takeover
TODAY’S WATCHLIST
- Exxon Mobil Corp (NYSE:XOM)
As soon as XOM touches below $80, we will be looking to go long.
Image from wallstreet.io
I will be taking a look at XOM during the Profit Revolution show today.
- Ford Motor Company (NYSE:F)
F is booming higher this morning…
Image from wallstreet.io
This could be the beginning of a move back to $20.
- Robinhood Markets Inc (NASDAQ:HOOD)
HOOD is rallying hard on a short squeeze.
Image from wallstreet.io
We will wait until this rally ends and then go short.
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March 29 2022
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