chartsmaster

Toilet Flush & REVERSAL

Long
NYSE:XON   None
After last weeks sharp decline, today we got an old fashioned toilet flush and reversal in XON. This is the stock that I said months ago would be a fantastic 10 year holding. Once again a little early, but I never said it was a short term trade. Now, with it down for the year and only 6-7 weeks til the New Year, put it on your watch list for an entry point before year end. The bounce will probably last for a few more points and the ensuing pullback will retrace most of the bounce. I would guess buyers (remember this is a ten year recommendation) should look to enter anywhere near or below 11 probably late in December after tax loss harvesting. Chartsmaster
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