Somehow, I wrote this post last night, but it didn’t publish… Anyhow, here are yesterdays moves

Yesterdays Moves.

At the close:

Bought to close half of our existing short position of ALK, 110 shares at $18.18 for a profit of $500.50. We currently have 1/4 position left. Shorted 35 shares of SPY at 71.73. Target is 65.92 and stop is 76.15. Shorted 38 shares of XOM at 65.68. Target is 61.69 and stop is 69.94 Watching CPLA. Any move below $49.35 and I’ll add 1/2 position

Yesterdays Virtual Portfolio Update

The wildest and craziest market is the one we have on our hands. Friday’s action saw lots of panic but it also saw large cap oil related stocks actually fall as crude oil pushed about $138. Large capitalization oil stocks like CVX and XOM closed down on the day on heavier turnover. Even HES was unable to break into new high territory, it too closed on its lows. Normally, these names help the S&P 500 and Dow Jones when oil moves higher, Friday was not the case. It was the small capitalization oil related names that did well. The NYSE indexes look real unhealthy at this point in time, the only healthy looking indexes are: NASDAQ, NASDAQ 100, S&P 400, S&P 600, and Russel 2000. This market is proving that the environment is for small cap oil related names. Most professionals are not ...

Get both Steve Reeves and Master Picks along with Four other newsletters at WallStNewsletters.com for only $99 for a 12 Month subscription. We bring you all of our newsletters for one price and at one location. The Stockmasters, ValuePlays, the Peridot Capitalist, Jelly Roll Capital Stock Reports, and Steve Reeves have teamed up to bring you the Full Monte and it's only at WallStNewsletters.com. Our Original newsletter that has enlightened our subscribers for over a year. It contains What to Buy, What to Sell, and Market Commentary. We have a ...

Gene Marcial, Business Week’s stock-picking guru, recommended Exxon Mobil (XOM) on 6/3/08:

a. It has been piling up billions upon billions of dollars each year in eye-popping profits.

b.The real story here is why Exxon Mobil is a must-own for long-term investors.

c. You can’t expect spectacular returns going forward, but predictable profitability is attractive in a volatile market.

d. According to Marcial, the company is still very much undervalued.

e. The stock now trades at just 10 times 2008 estimated earnings of $9 a share. That is about in line with, or less than, its smaller peers.

f. The company’s return on equity went to 34.5% last year from 26% in 2006. And dividend growth is at a yearly clip of 9.1%, with the shares yielding 1.7%. Exxon Mobil bought back about $8 billion of its stock in the first quarter of 2008.

g. oil and gas production accounted for only 7.3% of revenues

...