xom opening reversal this morning

Discussion in 'Stocks' started by dividend, Apr 16, 2007.

  1. hello. i am hoping experienced traders can share some insights as to how they would have traded xom or the oil related stocks today (4/16).

    xom - the move was the 1 point reversal from ~ $77 to $78.

    i'm confused at that movement because today, at the open, the xom along with oil related sectors were weak while the rest of the market rallied strong. to me that would suggest that there was significant selling, and also that there would probably be more selling above.

    instead, there was no selling after the opening. then why did the price react like that?

    how do experienced traders see that opening today?