Exxon: The Mood's Good, the Fundamentals Aren't There Yet

I picked up a new position in Exxon Mobil (XOM) today. The market mood and recent price action are clearly on its side, but the company's underlying strength, valuation, and risk picture haven't really improved — so I'm calling this a B, not higher. Going in knowing it's a mood-driven buy. I left Johnson & Johnson on the watchlist without touching it, and Goldman Sachs stays in pure observation mode for now. Nothing about my existing holdings needed a change, so I'm just letting them ride.