Short City Update: Exxon-Mobil: hold short; Wal-Mart: cover short

Filed under: Wal-Mart (WMT), Exxon Mobil (XOM)

An update: a decision to hold one short and close another short position - due to the probability of higher-than-expected U.S. GDP growth in Q3/Q4, and the impact that better economic recovery would have on consumer spending.

Exxon-Mobil (NYSE: XOM), recommended on June 3, 2009 at a price of $72.88. As expected, Exxon-Mobil's stock remains under pressure, due to the possibility of moderating oil prices and continued, sluggish U.S. gasoline sales, stemming from 7 million lay-offs in the U.S., increased vehicle efficiency, and a frugal consumer. Hold Short, but Cover Short on a bounce off $60, $56.50, $55, $50, $45, or $40. Revised Buy/Stop Loss if you sold shares in this company: $78.

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Short City Update: Exxon-Mobil: hold short; Wal-Mart: cover short originally appeared on BloggingStocks on Fri, 25 Sep 2009 17:30:00 EST. Please see our terms for use of feeds.

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