my name change for some reason but this is what I am thinking......The Feds only cut .25 or nothing tomoro and the market takes a dive the rest of the week.....loosing over 500-800 on the dow by Fridays close and takes down WNR back to 17 and change.......I am thinking of re shorting here, please somebody tell me why I should not.
I really think the fed is going to cut .50, come on------you know as well as I do that these guys are in Wall st's pocket. I love the move up today. I know when I watch shows like kramer and fast money they are going to be pushing the refiners now (I'm not saying I believe what these guys say but alot of people do). If gasoline inventories finally drop tomorrow (which would be the first time in 10 weeks), the refiners are going to go nuts again.
We have a good group of people and I love hearing the opionions. I think this is the first time in my life I will be the biggest bull because I think we might see another 5% up move in WNR tomorrow.
Everyone enjoy there day.
It looks like it will hold above the 20-day MA today. Add to that: high volume, MACD swung up, RSI swung up. What does concern me is that it gapped up slightly...it might want to go back down to fill that gap tomorrow. But it's not likely to continue the downtrend based on the upgrade...so I say start 1/3 position here and add to that if it dips.
Because all refiners are beginning to be upgraded and we will be moving into the heart of the refining season? Go ahead and short.
Why you guys short it beyond me. Why not limit your exposure and buy puts if you think the stock is going down. That way you limit your investment to the price of the put vs. unlimited risk in shorting...
Fly.. good msg.
My thinking is that the Fed will only go .25 tomorrow. The Street will/may take this as a good sign that economy is not as bad as originally thought. The market may drop initially with the news but can react just as fast.
My thinking is still that WNR will still post more/better earnings that the 'whisper numbers' that the Street forecasts. Perhaps blow-out numbers like VLO's earnings for the quarter.
Have a good day