The collapse of oil through $70.00 a barrel on Thursday follows the decision by OPEC to basically, do nothing really. Almost all OPEC countries need the revenues that oil generates for their economies. Tightening the amount of oil flowing might mean higher prices per barrel but also will mean less total revenue numbers. In my opinion none of the OPEC countries can afford to reduce oil output.
I am working on a number of trade ideas in a variety of stocks for Friday.
Exxon Mobil is the first stock I am looking at for a number of different trade ideas.

Exxon Mobil Stock (XOM) Trade Ideas for Nov 27 2014

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