Jimmy Lathrop

Exxon Mobil Appears at Lower End of Valuation Range

Energy stocks will continue to drop as institutions will continue to sell to raise capital, but yes, XOM and the other energy stocks are not trading at rational levels, and the time for slow accumulation is Monday, heavy emphasis on the word slow. Let someone else take the stocks off of the hedge funds hands until you can see sell orders covering the floor of the stock exchange. That's when you start buying. What's that? No more paper orders at exchanges? Shoot, I forgot. In that case, you can start slowly accumulating and when you see big institutions and money managers start to close down, that's when you pick up the pace.