When the olympics are over and China turns back the engines,factories watch XOM go back up.. XOM, only if you want to make money with little effort.
Then why talk about it now. The thing is heading to $68 on my analysis and the bounce will be weak. XOM has a huge fuckin' float. It will be lucky to get back over $86 again. Its done and in distribution mode. No fund manager who holds significant holding is going to take the risk to hold into the end of the year. Common sense! The energy game is coming to an end and losing momentum. Put a fork in it and short the bounces. By 2012, XOM will be trading under $50 and be dead money.