Chevron Corp Q3 FY12/24 Earnings Review

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Yawn

By Alex King, CEO, Cestrian Capital Research, Inc.

The reason that so few people follow the Wyckoff Rotation system (here) is that it takes tooooooo long to generate results for most folks. But if you have multiple stocks - or indeed multiple sectors - that you invest in, each of which are at different phases in the cycle, then you can be generating positive returns at an account level most of the time, even when certain sectors and/or stocks are doing nothing much. Here's an illustration which I asked Gemini to draw for me.

Prompt: "draw a stock chart illustrating Wyckoff rotation with two stocks"

Energy, I think, is under accumulation. I say I think because an accumulation pattern (sideways, rangebound, high volume) looks a lot like a distribution pattern (sideways, rangebound, high volume) and you have to guess which it is. When I say guess, I mean apply some judicious analysis, of course.

You can see this in CVX, in XLE, in USO. OXY breaks the mold somewhat as I noted yesterday.

So, let's check in on CVX.

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