XOM shares have been going down for 5 years now. this is the only time in the last 40 years that this stock has had a decline lasting this long. (and DO has been going down for almost 10 years).
can't last much longer. i bet we see oil, and oil stocks turn higher before too long.
oil should be back up above 100 bucks in 2 years or so. maybe sooner.
what does it mean for the election if gas is up another buck by nov 2020 ?...
roughly... XOM 7 yr cycle... 1980, then 1987, then 93, then 2000, then 2007, and 2014... past highs. we should see another high around 2021 ...
Is this a function of cycles or??
Hard to imagine what fundamental would push oil to 100
But the old saying
When there is blood in the street etc
aside from the 7 year cycle mentioned for XOM, there also seems to be a 10 year cycle going from...
a top about 1980-81, then again we had a spike around 1990-1991 (gulf war one), then a new spike again about
2001 , and a high again in 2011 (if we ignore 2008).
i expect we should see a spike around 2021, roughly.
so the oil, 10 yr cycle rise into 2021, would line up with the 7 yr cycle of XOM, topping in 2021 ...
but i would not expect this to be a massive long bull like we saw in the 1970's, or 2000's .