The Long Investor

$OXY

Added 2024-09-05 12:36:32 +0000 UTC

Two very important points to make here:

1. If you have an issue holding a stock like $OXY for a number of weeks, you are not a long term investor, you are a trader or you do not know the difference between both.

2. $OXY is not in our safe haven category or I have never labeled it as a safe haven, again, please take responsibility for your own actions.....SILVER, $TLT, $TMF, $CURE, $CL, $PG, $XLV, $KO, GOLD have all been labeled as Safe Havens and all performing incredibly well as safe havens....why some people did not buy these (as labelled as safe havens) instead of $OXY, was a personal choice.

I tend to lean on the side of trusting the Masters of this game like Buffett, who is the greatest long term investor of our generation.

My opinion is that Oil and $OXY are struggling now due to the market believing that Trump will win in November and that he will approve a large supply increase of oil and thus lowering the price.

$OXY is more than just an oil company, it is incredibly lean, with healthy margins, market leader in carbon capture and has Buffett steering at the helm

$OXY is a long term hold, IT IS a hedge against a market, as the market is typically Tech heavy and this is not in this sector, it is NOT a traditional safe haven

I allocated significant amount of my Cash into Silver as this is a safe haven, I would not do this with a stock like this that is subject to a lot of influences, particularly of global significance like wars and disputes.

Chart has not changed in terms of our targets but I have added in the 0.5 Fib to show where support can go to if $54 is lost.