Mar 7, 2005

Oil Bet

Two weeks ago today, I offered to a bet to a friend that Exxon Mobile (XOM) would make a high in the next two weeks that would not be eclipsed for two months. My friend did not take the bet. I am not sure at this point whether that is good or bad. I did not think the rally would last until Friday so obviously we have a good shot at knocking out the high in the very near term. It still feels more like a top than an entry point though.

Maybe not so for oil prices themselves as the stocks rallied well in front of the underlying commodity.

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