InTheMoneyStocks'  Instablog

Send Message
  • Big Energy Feels The Heat 0 comments
    Feb 4, 2013 10:52 AM

    This morning, the leading integrated energy stocks are coming under selling pressure. It is important to note that the energy sector accounts for roughly 17.0 percent of the S&P 500 Index. It is now very easy to see why this industry group is so important for the major stock indexes.

    The leading energy stock in the sector is Exxon Mobil Corp (NYSE:XOM). Today, XOM stock is declining lower by $1.00 to $89.02 a share. Short term traders should watch for intra-day support around the $88.80, and $88.32 levels. The daily chart is signaling support around the $87.75 area. Traders must remember, XOM has the largest market capitalization in the world around $410.0 billion.

    Some other leading integrated energy stocks that are declining lower today include Chevron Corp (NYSE:CVX), ConocoPhillips (NYSE:COP), and BP plc (NYSE:BP). All of these leading energy stocks are still signaling further weakness on the daily charts. As long as these stocks remain weak it is very difficult for the major stock indexes to trade higher. Often, the leading energy stocks will trade inverse to the U.S. Dollar.

    Nicholas Santiago


    (click to enlarge)

Back To InTheMoneyStocks' Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


  • And he just closed out another one, $DUST for +7.55% in the Research Center...
    Jul 20, 2016
  • Gareth sold his $JDST in the Research Center here: Profit earned = +12.5%. Congrats members!
    Jul 20, 2016
  • $IWM negative already on the day. Small cap warning signal?
    Jul 20, 2016
More »

Latest Comments

Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.