$OXY
I dont even want to offer a recommendation on this one. Why? Because the company is literally upside down with debt.
See article:
www.houstonchronicle.com
From my quick analysis, it appears that oil contract that closed Friday of last week ended sharply higher. This carried into the weekend with the OPEC meeting and then into Monday bringing euphoria...
Quick short here with CMG loosing key support at 472. That gap from Oct 2013 at 447.65 is just screaming for attention! Look to short below 472, but after a potential bounce tomorrow off of today's broader market oversold levels. Target at 447.65. Keep your stop at 472 for Risk/Reward of 1.87x. CMG Calls are trading at a new 52W high IV, again! Consider...
