New Addition to my Watchlist

International trade's released last week showed weakness and the slow global economy is still continuing to impact the industrial sectors. Industrial Production numbers released this week indicate sluggish activity due to the continuous decline of U.S. exports. Oil Inventories are continuing to rise while refined products still remain scarce. Gas prices continue to rise but oil prices are beginning to fall due to the increase in supply. The demand for gasoline is still pushing gas prices higher while the inventories of oil are pushing oil prices down; there is a gap occurring and this gap is call Profit Margin. If this gap continues there are going to be some upside plays with companies like (XOM) or Exxon Mobile Corp. Looking at the Exxon stock chart  price has already broken a 2 yr. high, although momentum is beginning to fade and price is currently overbought. . I'm putting XOM on my watch list and will be monitoring the stock waiting for the price to enter oversold region on my Stochastic indicator. If price of XOM holds its new support at $88.50 and enters the oversold region on my indicator then I will be looking for an entry point. Patience is my best friend right now; jumping the gun could cost me big.