May. 27 at 4:35 PM
$CVX the price if CVX is flat from the day the war started or the week the war started and up since the beginning of the year 20 percent as you and i discussed yesterday. Market doesnt hate oil at all, market doesnt hate its dividend, or its 20 percent appreciation, however, CVX was up as high as 32 percent this year and its currently at the bottom of a consolidation range. There is some serious mispricing going on right now with crude and i can only imagine Brent, etc and all mispricings correct themselves eventually. it would be hard for me to believe, this goes all the way back to 160, given all the fundamental footing this stock has right now including the entire quarter they have been selling barrells are 3-4x there cost, when there normally selling at 2 times so earnings are going to be good as well for this quarter. lets see how it holds at the bottom of this consolidation range, but my guess is it holds and runs next week. remember, this is month end too.
