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11/25/2014 – Occidental Petroleum

  • November 25, 2014
  • Occidental Petroleum

Issued: 11/20/2014

Occidental Petroleum, OXY:

1. Our previous Occidental Petroleum report (Sun., Nov. 16 indicated that aggressive traders could begin buying Occidental Petroleum upon any touch and daily close above $85.77/$.25 for a tradable multiweek advance test/attempt at $89.50/$90.50 (or higher) into the week of Dec. 1 (+/- 1 week).

2. Subsequently, Occidental Petroleum declined into the $85.77/$.25 buying territory (Nov. 19 swing low, $85.39) and closed each session above $85.77. Therefore, aggressive traders are now long Occidental Petroleum between (approximately) $85.90 – $86.05.

3. An initial long position exit should be taken now at current prices (current price $86.70). The remaining position will be held for substantially higher prices including a test/attempt at $89.50/$$90.50 noted in the original update.

4. A protective sell stop should be placed at $85.68. This stop will be moved higher as the market continues to confirm.

David Williams

Issued: 11/26/2014

Occidental Petroleum, OXY:

1. Occidental Petroleum provided long entry for aggressive traders between $85.90 – $86.05 based upon the Nov. 19 daily close at $86.04, noted in previous reports. Partial long position exits were taken at $86.70 and the remaining position held for our $89.50/$$90.50 upside target, noted in the original update.

2. Occidental Petroleum subsequently advanced to $88.77 ($2.72 per share in our favor) before reversing and triggering our $86.60 protective sell stop. This resulted in profitable trade.

3. The decline back to the original $85.77/$25 buying territory is unusual behavior (today’s session low, $85.70, so far). If Occidental holds $85.77/$.25 it may prompt a secondary long entry for the original $89.50/$$90.50 upside target. Will update as the market continues to confirm.

David Williams

Issued: 11/16/2014

Occidental Petroleum, OXY:

1. Continued daily closes above $85.77/$.25 in Occidental Petroleum will indicate a tradable multiweek advance and test/attempt at $89.50/$90.50 (or higher) into the week of Dec. 1 (+/-1 week).

2. Aggressive can begin buying upon any further test and/or daily close above $85.77/$.25. Non-aggressive will be given further instruction as the market continues to confirm. Will update.

David Williams

Issued: 11/24/2014

Occidental Petroleum, OXY:

1. Occidental Petroleum continues its forecast advance from the $85.77/$25 buying territory to tthe $89.50/$$90.50 forecast upside target expected into the week of Dec. 1 (+/-1 week). Today’s (Mon., Nov. 24) session high has been $88.77, so far.

2. Our protective sell stop has been raised to $86.60. This stop will continue to be moved higher as the market continues to confirm.

David Williams

CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.

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CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
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