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Thomas H. Kee Jr., is President and CEO of Stock Traders Daily and author of 'Top of the Market to You!' Mr. Kee's reports and analysis are currently featured by Reuters Research to their institutional clients. He serves on the board of many companies and provides economic analysis and... More
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  • Short Chevron (CVX) 1 comment
    Jul 20, 2009 1:40 PM | about stocks: CVX

    Short Chevron: CVX

    Every week I issue a recommendation to trade a specific stock.  Sometimes it is long, and sometimes it is is short.  The recommendations are always tied directly to my correlated Market analysis.  In 2008, this strategy earned over 60%.  Thus far in 2009, we are up over 26%.  There are only a few trades per week.

    This week, the Stock of the Week is Chevron.  Here is the specific recommendation, but it is subject to change during the week:


    (Short) Resistance Plan:

    Short near 66.14, target 63.27, Stop Loss @ 66.4

    Rationale:  As the Market moves closer to mid term resistance, a pullback becomes more and more likely.  If a test of mid term resistance occurs early in the week, and if it holds, I expect a pullback to follow.  I have based this call on that probability.

    The derivation of this recommendation can be found by reviewing the link below.  It is a 10-minute presentation that describes the correlated market timing and stock selection process I used to determine that CVX was a good choice for this week’s selection.  You can use the same approach to find ideas yourself going forward.

    Good Trading.

    Thomas H. Kee Jr.  


    Stocks: CVX
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  • Matt Vorwald
    , contributor
    Comment (1) | Send Message
    Great call on shorting CVX. NOT! Your call to short CVX at 66.14 resulted in your position closing out a mere 2 hours or so after it was opened. Awesome market analysis.... resulting in a LOSS.
    21 Jul 2009, 02:04 PM Reply Like
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