This post was just published on ZYX Buy Change Alert.
Occidental Petroleum (OXY) was bought at $11.67 five trading days ago. It has moved up to $16.49 in the aftermarket as of this writing and is actively trading.
The target zone has been $15.83 to $18.34. The reason the stock is running up in the aftermarket appears to be rumors about the OPEC meeting set for tomorrow. There may be more rumors or the results of the meeting may be known before the U. S. market opens. Depending upon the results, OXY can run higher or experience a significant drop.
What To Do Now
41.3% return in five trading days is a gift horse. Never look a gift horse in the mouth.
Depending on personal preference consider one of the following:
- Take profits and exit the position.
- Take profits on a 15% tranche and continue to hold the remaining 10% tranche. Moves stops to the zone of $15.23 to $15.38.
For tracking purposes, partial profits will be taken right now and partial quantity will be held.
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