[+ Font] :: [- Font] :: Printable

Special oil & energy report

By Jack Chan at www.simplyprofits.org
May 8th, 2026

Energy sector on long term buy signal since late 2025.

USO – we are long from 70.22, holding with no stops. Current pivot support at 110.

XLE – we are long from 45.89 & 58.78, holding with no stops. Current pivot support at 53.50.

Here are some top oil companies some of our members are holding:

XOM - current pivot support at 142.

CVX – current pivot support at 176.

COP – current pivot support at 111.

OXY – current pivot support at 51.

EOG – current pivot support at 124.

Summary

We are currently 60% invested in the sector, holding with no stops.

We prefer ETFs for diversification, simple execution and management.

Folks who prefer some of these oil companies can simply follow our trading model for the sector, either holding for the long term or trading the short term.

End of update

May 8th, 2026
Jack Chan
website: www.simplyprofits.org

We do not offer predictions or forecasts for the markets. What you see here is our simple trading model which provides us the signals and set ups to be either long, short, or in cash at any given time. Entry points and stops are provided in real time to subscribers, therefore, this update may not reflect our current positions in the markets. Trade at your own discretion. We also provide coverage to the major indexes and gold sector.

Jack Chan is the editor of Simply Profits at www.simplyprofits.org, established in 2006. Jack bought his first mining stock, Hoko Exploration in 1979, and has been active in the markets for the past 40 years. Technical analysis has helped him filter out the noise and focus on the when, and leaving the why to the fundamental analysts. His proprietary trading models have enabled him to identify the Nasdaq top in 2000, the new gold bull market in 2001, the stock market top in 2007, the US dollar bottom in 2011, and most recently, overweighing in bonds over stocks in 2019 before COVID19 became a household name.

In his spare time, Jack is an avid golfer and tennis player, and volunteers his time coaching and lecturing at local clubs and universities.