Says NS will have RECORD 3Q earnings!! Says asphalt demand is outpacing supply. Asphalt prices are very high. NS in great position to exploit asphalt market. CEO Greehey is a winner and makes money where ever he goes. Wish he would go back to VLO.
Anybody that sells a single share today is doing so because they HAVE NO CHOICE.
There is some reassurance in that fact.
Unfortunately, we have no idea how many funds/individuals are in that position. In a market where nobody wants to buy anything combined with a low volume stock with forced selling, this could go off a cliff. 30's are a given at this point.
It will have to rebound at some point given the fundamentals and distribution. The pain and anxiety up to that point will test even the most determined investor. There is blood in the streets. It's official.
That is the most reasonable thing I've ever read you post.
The storm damage to other companies' refineries should, of all things, bring even better prices for NS asphalt. Also, VLO's refineries in Corpus wasn't hit so NS should not experience much volume disruption.
But yes, the funds like Lehman are forced selling so there is nothing we can do. Just keep plugging on good result after good result until shares change from weak hands to strong hands.
One of the few great buying opportunities of a lifetime.
witsend21, I am 100% certain you will make money on your 50.35 NS buy. NS is holiding last Friday gap-up, moving averages are slowly catching up. 200 dma is just above ~51. When that resistance clears, you'll have a smooth sailing until ~55.
I bought more NSH today at 20.55.
Both NS and NSH will be going higher, they are both significantly undervalued at these levels. The Lehman conference yesterday was great. Heck, from the questions I heard some participants just got introduced to NuStar. Really, nothing but good things to be said about the company at this point. IMHO, all the negatives about the company are already priced in (hence the depressed share value), and most were proven invalid by recent financial disclosures made by NuStar's management.
Greehey is a smartie in the oil patch but he's still a whore for buying Venzuelan bottom crude. Citgo, unknown to many is controlled by Chavez and supplies most of the crude for gasoline refining at their stations. There are no patriots in the Texas oil game, just greedy bastards like the Bush Family.
and don't forget yourself as one of the greedy bastards. you either own the stock (even though citgo blah...blah)or are thinking about buying the stock (even though citgo blah...blah).
i think any investor (that is, one that has done an iota of dd)knows the citgo connection. by the way, where does the gasoline (read: oil)you put in your car come from? and you still buy it?
It was a very informative interview for investors in NS. Only wild card is NS is dealing with an extremely unstable dictator, but, if NS is one of the few that can process the heavy sour, then what the heck!