Oxy Buy
New position added. Oil play, China stimulus, ME conflict, low cost producer, rate cut ![]()
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PuncakGemilang : Can share more on decision on buying in now ?
Oxy : 10.30 got oil supply data
Oxy : I betting on oil price will go up soon
102337007 : can day trade today. 35 days ATR is 1.15 and now only 0.52 so may still drop some more.
Oxy 102337007 : I just position at 52.
swk789 OP PuncakGemilang : it's a defensive play for me with limited downside given current valuation. Oxy still producing good numbers and being low cost will be better able to sustain a low oil price compared to other companies. But current oil price doesn't seem to truly reflect the contagion risk in the Middle East, China stimulus and Central banks starting to reduce rates.
swk789 OP 102337007 : Interesting insight and you picked it! will look into ATR more in the future.
swk789 OP Oxy : nice! My average cost is around 53.9![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
but probably better than Buffett, Pabrai and Li Lu's recent entries.