Sponsored By:

Trade of the Day: Exxon Mobil (XOM)

Energy should be strong if the cyclical rotation holds true

   

So much for the whole “sell in May and go away” concept, huh? I didn’t buy into that concept, and it’s a good thing; overall the S&P 500 was up another 1.5% this week. In light of the cyclical rotation underway, one of the sectors I’m shifting my focus to is energy.

XOM510 Trade of the Day: Exxon Mobil (XOM)Exxon Mobil (NYSE:XOM) stock was down most of the day Friday in sync with crude oil as bulls and bears battled at longtime resistance. Fellow big oil companies ConocoPhillips (NYSE:COP) and Chevron (NYSE:CVX) both were slammed back from similar resistance earlier in the month and then plunged through. I expect the same to happen with Exxon.

Recommendation: XOM June $90 calls for a $2.40 target. There’s a lot of time left for this to play out.

Want to learn how to rein in your subjective side to capture more profits? Jon Markman is hosting a free 30-minute webinar this Wednesday at 4:30 PM Eastern: Trade Against Your Gut: When Instinct is Your Worst Enemy.

InvestorPlace advisor Jon Markman operates the investment firm Markman Capital Insight. He also writes a daily swing trading newsletter, Trader’s Advantage, which aims to capture profits of 15% to 40% and often as much at 100% to 200% in less than 90 days. 

Professional traders and hedge funds make huge profits off volatility.  Now, Jon’s service CounterPoint Options levels the playing field with the first service geared towards helping individual traders make steady, consistent profits with the VIX.  Get more information on Trader’s Advantage and CounterPoint Options today.


Article printed from InvestorPlace Media, http://investorplace.com/247trader/markman-xom-trade/.

©2014 InvestorPlace Media, LLC

Comments are currently unavailable. Please check back soon.