OXY - how much lower can it go?
Honestly, I can't make sense of the chart so send any jokes my way. Be gentle.
What I can make sense of this things appears to be oversold as does oil. RSI is below 30. They should be filling SPR at these levels (stressing the word "should"). Uncle Warren is probably gobbling up OXY at these levels and the Middle East is in turmoil.
I'm buying calls ($57 with 12/29 expiry date). Also, did a CSP at $55. I'm fine with owning this one for the long term.
All aboard the Uncle Warren train. Choo Choo.
What I can make sense of this things appears to be oversold as does oil. RSI is below 30. They should be filling SPR at these levels (stressing the word "should"). Uncle Warren is probably gobbling up OXY at these levels and the Middle East is in turmoil.
I'm buying calls ($57 with 12/29 expiry date). Also, did a CSP at $55. I'm fine with owning this one for the long term.
All aboard the Uncle Warren train. Choo Choo.
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