Exxon Down, $75 Support Falls
Posted on Wed 3rd Jan, 2007 11:30:06 AM
Today’s move below $75 thus far has put Exxon Mobil (XOM) shares out of buy territory. The oil sector is having a horrible day today, with the Oil Services Holders Trust (OIH) down some 4%. Though the rest of the market has marched upwards, XOM is the biggest piece of the S&P 500 alongside many other indices. XOM alone cannot bring down the market, but it surely will not help going forward. Look for support around the 50 DMA, and stay away from XOM for now.
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