You’ll most likely see XOM in particular trade down at least another 10-15% by year end. Oil is a catastrophe, and happening this time of year, these cos IMHO are simply going to be sold down into year end as tax harvesting sardines. Maybe not so much CAT; even though I watch CAT I am not tuned into it right now but DE, its sector compadre, got fricase’ed the other day, -7 points.
One could nibble on these things in this turmoil but it is not safe to put meaningful money to work *quite* yet.
My .02
>> You’ll most likely see XOM in particular trade down at least another 10-15% by year end. @etec
I hear what you’re saying. In fact, I caught the CAT “falling knife” at $82 and now I wish I had waited a little longer.
On the other hand, it’s my IRA portfolio and I don’t plan to touch it for several more years. So if I buy a solid company that yields 3% to 4% I don’t lose much sleep if it goes down a couple bucks... I’ll have a capital gain in a couple or three years, plus the 4%.
Thanks for the thoughtful reply, and FRegards