timwest

Chevron Corp -CVX -Dailiy - Oversold in a Major Downtrend

NYSE:CVX   CHEVRON CORP
266 6 3
Note the current decline and compare it to the decline in January-February.

The current oversold level will relieve itself with a small rally and a new down wave can commence.

114 target by year-end. 122.89 last.

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Tim

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I hope it does. I am longterm holder of CVX, would love to grab some more at 114
+1 Reply
timwest PRO gatorNic
Great attitude. If you sell some long term puts at that strike price (1 for each 100 shares you want to buy) then you can get paid today for that investment.
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http://finance.yahoo.com/q/op?s=CVX&m=2015-01 Jan-2015 options - scroll down to the Put Options at 115 strike price. Over $2/option = $200 per 100 shares of CVX you want to buy.
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So I should still wait for this small rally then place a short? Thanks
Reply
timwest PRO ZaloRostam
I'm suggesting that. Yes.
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Actually the current decline resembles Mid Sep 2013 more.
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