Exxon, Energy Drop Still Have Long Way to Go
Posted on September 10, 2008 at 11:30 AM EDT
Last week I wrote a piece called Cashing In on Energy Drop which I hope allowed Minyans to mint a little coin while others were scrambling for security. Now that many of these charts have broken down significantly I find it worthwhile to update my thesis a bit and look at what we should expect from this point forward. First however let’s take a look at some before and after for the Select Energy ETF (XLE) Transocean (RIG) and Exxon-Mobil (XOM): Select Energy ETF September 3Chart courtesy of Telechart www.worden.comSelect Energy ETF September 10Chart courtesy of Telechart www.worden.comTransocean September ...