You don't have to look much further than stocks like Exxon Mobil (NYSE:XOM) and Chevron (NYSE:CVX) in the last several few weeks to see that earnings season has not been kind to big oil. In fact, in the case of XOM, the stock recently ended an eleven trading day streak of down days. Going all the way back to 1980, this is the longest streak of down days the stock has ever had.
In the table below we have listed the nine times XOM has had a losing streak of seven or more trading days since 1980. As shown, of the nine occurrences, even after the streak ended, the stock has averaged a decline of 1.2% over the following week with negative returns more the half of the time. Looking out over the next month, the stock has fared better, averaging a gain of 2.6%, but even here the stock has been up less than half of the time.