It is odd because the RBOB was up today, which Valero almost always tracks.
Had to be the OE.
Valero
- Thread starter ByLoSellHi
- Start date
It is odd because the RBOB was up today, which Valero almost always tracks.
Had to be the OE.
I'm sticking with it. My two entries were $58 and just over $59.
same here on 59....Now if we can just get Greenspan to shut the hell up, the market might rally to 12900 on Monday. What else you holding?... They say that retail stocks are going to suffer too from all this subprime crap... seems like there are no safe sectors. Maybe basic materials?
cm
Well I wouldn't worry about vlo. It will be up about 8% in about a month because of the driving season. It was just down because the oil futures are about to expire in a couple days so all oil plays are feeling the pain even though the crack spread is printing them money. Another good play in the refiners is WNR I bought it about a week and a half ago and it's already up 14%. It has a small market cap so when mutual funds and hedge funds get into it it really moves. Mark my words this stock will be about 50 at the end of summer. Trust me I made the same mistake with TSO when they were twenty dollars and got out at about thirty and look where it is now.
It'd be nice if it would STOP consolidating. 
Gasoline inventories plunged more than twice as much as expected.
Crude inventories rose more than twice the expected number...a bit of a wash. Either gas comes down or crude comes up to move things one way or another.
Don't pay any attention to people claiming profit taking for the drop in the crack spread, it is simply the expiration of the April futures contract at $25.65 vs the current May contract at $20.18 It's not like it was a surprise.