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October 27, 2005

Dibs on Lee Raymond's job, Thurs., Oct. 27, 2005, 10:22 AM

Dibs on Lee Raymond's job. ExxonMobil has reported that it hit revenue of $100 billion and earnings of $10 billion FOR THE QUARTER.

And as a prelude, last evening I published the fact that their oil and gas production levels are DOWN. Things are really tough in Irving Texas. :-)

We should all be so down.

Earlier this year I decided to get out of the stock. I was late. But not too late.

Had I been trading strictly on the basis of the RSI technical indicator I would have been out a little earlier.

But you know, with crude oil and natural gas prices skyrocketing, I found it a difficult decision to make. You know, back then I could see a day like today coming.

Ten billion dollars in profits for the quarter! Wow!

And have you taken notice that ExxonMobil is using enough capital every quarter to buy back shares that had it been spent acquiring corporations would have resulted in buying a large cap company every quarter?

Oh to be wearing the shoes of Lee Raymond, ExxonMobil's Executive Chair and CEO.


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Posted by Posted by Bill Cara on October 27, 2005 10:23:21 AM | Category: 10 Energy

Discourse

Bill - Whats the matter with XOM if they report numbers (profit) never seen before and in those unseen levels why isn't the stock receiving a massive boost? On a second note, if NG is $12-13 and oil is above $60 why is it so hard for Suncor and others to make money (headline said profit rises slightly) I realize in the case of Suncor there was a fire which has cramped production but am I just noticing now that all the upside has been priced in and we're bleeding the Katrina / Rita runup. How does one take a OIL play today when hurricane season is over and weather patterns seem normal for the time of year.

The newswires on NG prices to hurt pump must have really cost people. With massive NG injections and hedges on top I'm not impressed going forward.

I've turned into a Cara bear cub called Grizzly

D

Posted by: dinov [TypeKey Profile Page] at October 27, 2005 12:10 PM [link]

"Cramer Tech Rally" continues...

Expectations (whisper numbers) in energy sector seem to have gotten ahead of the company capabilities...

Mining stocks look vulnerable relative to metal. XAU vs. GLD

Posted by: stockman [TypeKey Profile Page] at October 27, 2005 3:11 PM [link]