XOM rising wedge, target a move down 4%

BATS:XOM   Exxon Mobil Corporation
Technically XOM is extended and showing signs of rapidly depleting buying support in the stock as it has climbed.

With so many stocks in basing formations and with VIX down near 14, it is time to start layering on some shorts.

I'm looking at MCD , GS , AAPL amongst others for shorting candidates.

4:13 PM EST, Thursday, Aug 16, 2012

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