With Venezuela's political upheaval, are oil stocks poised to take off? CVX is just a step away from hitting new highs.

AI Summary

Author sees Venezuelan instability driving near-term gains in CVX but plans to trim after a breakout.

CVX — LONG The author argues that geopolitical instability in Venezuela will push capital into large U.S. oil companies, with CVX near all-time highs. They plan to hold their existing CVX position and wait for a breakout above the new high before trimming to lock in profits. The main stated risk is that a cooling news cycle could trigger a stampede-like pullback.

I believe that with geopolitical instability, capital will inevitably flow toward major U.S. oil companies. I expect this volatility to persist in the short term

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u/Much_Read8816 Reddit r/stocks

Venezuela instability drives capital into CVX near term.

The author argues that geopolitical instability in Venezuela will push capital into large U.S. oil companies, with CVX near all-time highs. They plan to hold their existing CVX position and wait for a breakout above the new high before trimming to lock in profits. The main stated risk is that a cooling news cycle could trigger a stampede-like pullback.

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