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JDSU hit hard on FNSR earnings?
AEO up 6% on earnings. Any other retailers that are expecting earnings soon?
Appears to be a standstill between the market and oil. Who will win as oil is knocking on $105 again... if it drops I believe the market will take a next leg up. If it breaks it... well you know the rest
DOW trading above the middle bolli, if it can close above it that will be key
DOW fighting to go green again today
Crude @ 104.63/barrel currently
That report certainly just made XOM drop 50 cents. I don't see it recouping any losses by the time contracts are expiring.
Exxon Sees 2011 Capital Expenditures Up 6%, To $34 Billion
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By Russell Gold and Isabel Ordonez
NEW YORK (Dow Jones)--Oil giant Exxon Mobil Corp. (XOM) said Wednesday it plans to boost its capital spending budget this year by more than 6% to $34 billion and increase production between 3% and 4%.
In its annual presentation to analysts, ExxonMobil said its production is expected to increase by 4% to 5% on average between 2009 and 2014. Those estimates include volume additions from U.S. natural-gas producer XTO Energy, a company it acquired last year. Excluding XTO production, Exxon Mobil expects its production to grow between 2% and 3% per year from 2009 to 2013. The estimate was unchanged from the range the company had provided in the past.
ExxonMobil, the largest U.S. oil company by market value, also confirmed it expects its annual capital expenditures to range from $33 billion to $37 billion through 2015, up from the long-term range of $25 billion to $30 billion announced last year.
The Irving, Texas-based company said it expects to add production of about 1.4 million barrels of oil equivalent per day by 2016, with 80% of those volumes expected to be oil. Exxon Mobil expects large projects in Canada, Iraq, Kazakhstan, Russia and the U.S. to drive its growth.
ExxonMobil said it plans to drill this year in the Gulf of Mexico, where companies are waiting for the federal government to issue new permits to drill exploratory deep-water wells.
ExxonMobil also said it increased production last year in unconventional shale areas such as the Haynesville formation in northwest Louisiana and East Texas and in the Fayetteville Shale in Arkansas. The company said it continued to lease and make minor acquisitions in multiple unconventional shale areas. Exxon said it currently holds 410,000 acres in the Bakken Shale in North Dakota and 120,000 acres in the Eagle Ford shale in Texas. Exxon is building its land position in other oil-rich areas, the company said.
-By Russell Gold and Isabel Ordonez
Hopefully this will help.
http://online.wsj.com/article/BT-CO-20110309-707015.html
How will this affect the price of crude?
I too thought it would turn around today as well but does not seem to be the case. Everyday that it extends the premium goes down. I understand that there is no way I will break even on this trade but hoping to recoup some of the losses before I cut the ties.
March 19th, $85.00 calls are what I am currently holding.
Break,
I do care about your opinion. Sometimes when it's myself involved in a play, I get blinded by my own thoughts of what I think should happen to a stock, not necessarily what is happening with the stock.
I'm caught in pretty deeply red here and just looking to see if there is a way to recoup some of the losses.
I thought the analyst meeting today could provide some kind of boost to the share price but so far not so good.
Great minds type alike lol
DOW trying to go green for first time today.
Made that new high
Thanks AD. Did you pick up anything from IBM?
XOM currently having their analyst day meeting 9am - 12pm est
Hopefully they get the same kind of gains lol
Wow, did they have earnings out or something?
A couple tidbits about some refinery's having to close for somethings. The analyst meeting is currently going on.
Going to open lower than down 30 cents, no end in sight again today it seems.
Yeah it does, not sure what it will take to turn it around and go the other way, market went up 124points yesterday and this thing couldn't finish green.
Yes they are now that oil has shot up over the last hour.
GM AD. Oil's up, Market futures are up, XOM is down premarket
XOM is hurting me this morning =(
Haha, I definitely didn't plan it that way. I had picked the date to move, but then we had a few classes cancelled due to snow so they moved the exams back to coincide with it. Pretty brutal, constitutional law and financial accounting, blech!
Yeah, I'm hoping I will know sooner rather than later, hate being in the red, and I'm in it pretty good right now bought on the first dip at a point I thought was the bottom, but the market decided to take a next leg down and made my buy look pretty rookie like lol.
I'm really trying to not keep so busy as I feel guilty not being able to post here. How are you feeling by the way? Much better I hope?
Thanks bud. I took a position in XOM early this morning as I thought with the oil prices increasing that XOM would make a run. Guess I will see how it fairs the rest of the week. Was looking for a quick in and out as I took position on March calls. Very risky I know, just thought it would cooperate but the entire market got hit today.
I've been really busy. Work is keeping me busy, I have 2 exams for my MBA next week and I'm packing because I'm moving on Saturday. I just really havent had much time to pay too much attention to anything but I will try to frequent more. Here's to hoping that XOM can make a nice rebound tomorrow
Hey AD, question for you.
With oil prices rising, does this mean a company like XOM should see an increase in stock price shortly? I'm not sure why the company was down today when oil futures were up. Could you please explain the correlation?
Hey all. Just wanted to let you know that I'm taking a few days off from trading. I'm pretty burnt out and have had a couple of poor consecutive trades so I need to regroup before I dive back in. Good luck everyone!
From one video poster to another, that really was an excellent chart analysis video. AD was right on his praise. Keep up the great work.
Did you pick up any of the april calls?
Oh absolutetely. I believe XOM will still be on it's way up over the next month. I just don't like not being able to see all of the information that I'm used to seeing. Also, I don't like being wrong - I expected some selling / profit taking, just not this big of a drop.
Yeah whats killing me is that Level 2 for options isn't working on my TD Ameritrade. The options are moving too fast for it to keep up so it just freezes. I thought there would be some selling, just didn't think it would drop this much. I thought it would stay in the 87's.
Wow XOM is down 1.79% in the first hour of trading after gapping open when will the bloodshed end
Ouch, XOM is having a brutal morning so far
Thanks moe
I know hardly anything about commodities but is there a way to watch what the price of oil is per barrel real time?
Haha, I think what I'm going to do when I have a day off is record a video in realtime of me trading options. That way people can see how options work in reaction to price and why I make buys at specific points. That might be a good video?
Great job bud!!! We sure have a huge library of material for people to learn about trading in there! Nice addition with the penny posts!
Hey green, welcome aboard!
First let me say congrats on the Superbowl. What a game that was!
How are you on reading charts? I can give you a link where it will teach you the technicals and what they mean and what to look for absolutely free. If you do have any questions on a particular techincal, please feel free to ask.
Thank you for your kind words as well. I may have to add to that sticky post at some point as well but so far it's accomplishing what I wanted it to. Options is a much different game than stocks. But they sure are fun.
One thing we like to advocate here, AD was the first to say it, is specialize in a particular area. Become an expert in one before you think about venturing into different areas. My forte is options. There are others that specialize in a particular sector whether it be precious metals or something else. Some specialize in commodities and trade futures on cocoa, rice, wheat, etc. But for me, I prefer the options game.
It sounds like you have some good historical data. I read an article yesterday where a guy went and tried to get a job with Steve Cohen in with the applicant said that he used data going back 50 years to recognize trends. He would then capitalize on any opportunity if he found a reoccuring trend. Steve Cohen said that he loved historical data. This comes from one of the richest men in the country. It looks like you have a solid start and a good head on your shoulders.
If you have any questions at all, please feel free to ask. We like to help everyone succeed here.
Get well soon AD!