SELLS
American Express Company (AXP)
BUYS
Exxon Mobil Corp (XOM)
American Express Company (AXP) had resurfaced in the black for sometime since we established a BUY position, but has now reached our -5% sell-stop (several times) and simply put, the stock seems entangled with the entire financial group debacle to really make any real profitable headway for us here. We will use our cash from this sell to establish a new BUY position in the following stock experiencing a pullback... Exxon Mobil Corp (XOM).
This may be another opportunity to increase our holdings in oil since selling half of our position in the middle of the 2007 year to protect our gains. Momentum may have returned for the entire oil sector and additionaly XOM pays out a nice dividend to all shareholders as we continue to hold this stock.
XOM is a BUY and we are adding 109 shares, at the purchase cost of $91.00 per share ($10,000 total) to the existing 70 shares we already have.
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