Im still short XOM, but I must say yesterday sucked and if we get another day or two like that I will be out of it. I was looking at it vs all of the other oil and oil related stocks and it was showing a lot of relative weakness. You can see on the weekly chart that it had not had any upside movement at all in some time, just stayed sideways. I was thinking we may be near a top in Oil, I still think that actually, and I wanted to short the weakest major oil stock as I figured that would put me in the lowest risk situation.
Brandon