Market corrections are like x-rays. They allow you to see truly strong assets which were previously hidden by speculative bullish chaos. At a glance, the setup in XOM looks scary, but you need to trust the wisdom of the market. The trend is your friend, and the trend is up. Look around and ask yourself, who is benefitting the most from the current economic environment? Sometimes the right thing to do is the scary thing to do. Ride it until it starts showing signs of weakness. I have no target, but will monitor this over time and provide updates if I feel it's time to jump out.
Note
Christ I should have bought more. Looked too scary back then. Looks even scarier right now. Fortune favors the bold.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.