On Tuesday Exxon Mobil reported quarterly results that were the smallest quarterly profit in more than 10 years. It announced a spending cuts of 25% for 2016 and suspended share repurchases immediately. My trade ahead of earnings turned out well and the the trade ended with a gain of 24% for one day of risk.
This article summarizes the trade and discusses ways it might have been improved. It also includes comments about the stock into 2016 and the outlook for trading this year.
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Disclaimer: There are risks involved in all investment strategies and investors can and do lose capital. Trade at your own risk. Stocks, options and investing are risky and can result in considerable losses. None of the strategies, stocks or information discussed and presented are financial or trading advice or recommendations. Everything presented and discussed are the author’s own trade ideas and opinions which the author may or may not enter into. The author assumes no liability for topics, ideas, errors, omissions, content and external links and trades done or not done. The author may or may not enter the trades mentioned. Some positions in mentioned stocks may already be held or are being adjusted.
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