Friday, October 26, 2007
Fly Sells: WMT, HD
I sold out of my WMT and HD positions.
Comments:
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Waitress: "You want me to hold the chicken?"
Jack: "Yeah, I want you to hold it between your knees".
Who is cooler than Jack?
http://www.youtube.com/watch?v=6wtfNE4z6a8
Jack: "Yeah, I want you to hold it between your knees".
Who is cooler than Jack?
http://www.youtube.com/watch?v=6wtfNE4z6a8
Fly, WNR should be the one to take a look at. It is the most beat up refinery stock, for no reason.
Refiners from summer highs to recent lows:
TSO: -37% $63 to %46 today not used
FTO: -37% $48 to $35
DK: -25% $30 to $24
VLO: -24% $78 to $63
WNR: -86% $65 to $36
WNR has a better chance to maximize your gains once you buy it back for the spring move. Wait for an uptrend and the crack spread to improve.
Refiners from summer highs to recent lows:
TSO: -37% $63 to %46 today not used
FTO: -37% $48 to $35
DK: -25% $30 to $24
VLO: -24% $78 to $63
WNR: -86% $65 to $36
WNR has a better chance to maximize your gains once you buy it back for the spring move. Wait for an uptrend and the crack spread to improve.
Oh, and keep an eye on CVI. New refinery IPO. The floods they recently had will become a non-issue once this driving season starts in 2008. CEO raises Olympic gold metal champs.
crude:
This monkey says that you've miscalculated the declines. It should be expressed as a percent of the high price, not the low. The list is still useful and appreciated.
It is the most beat up refinery stock, for no reason.
There's always a reason, even if it is one you think is B.S. So, what is the reason?
This monkey says that you've miscalculated the declines. It should be expressed as a percent of the high price, not the low. The list is still useful and appreciated.
It is the most beat up refinery stock, for no reason.
There's always a reason, even if it is one you think is B.S. So, what is the reason?
Fly,
I tossed my chicken bones and dice around this morning a bit. I deciphered the code and found that we are going higher from here to the close today (Market at 13,732). We are faced with significant overhead resistance on several of my mindless, lazy fuck charts, which is creating the fight we see this morning. However, with a drop of crude below $91 today (it will happen), we are going to pop above the days high and leave the monkey boys scratching their balls. My chicken bones and dice told me so.
I tossed my chicken bones and dice around this morning a bit. I deciphered the code and found that we are going higher from here to the close today (Market at 13,732). We are faced with significant overhead resistance on several of my mindless, lazy fuck charts, which is creating the fight we see this morning. However, with a drop of crude below $91 today (it will happen), we are going to pop above the days high and leave the monkey boys scratching their balls. My chicken bones and dice told me so.
It is beat up, like all refiner stocks because that tends to happen in the shoulder months as the crack spread (margin) tightens. However, I feel that it has been heavily sold due to the large volumes and price actions that took place with the GI announcement. It got a little ahead of itself. As the funds sold the refiners which they typically do as summer winds down, the volume and price to the downside was amplified.
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