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Western Refining, Inc. Message Board

  • ralphedwards88 ralphedwards88 Dec 17, 2010 5:23 PM Flag

    LOOK for dead cat bounce Monday, santa rally

    Fun for all.
    Cheers

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    • Good to hear from someone who is knowledgeable. At any rate I'm for letting the dead cat rip.

    • Whoever started this topic was completely ignorant of the TA in the real stock markets - text books are only good for picking up the terms. They don't teach you how to use them in real trading.

      "Dead cat bounce" refers to the counter moves in a firmly downtrend situation.

      In a strong uptrend, as is the case with WNR and all refinery stocks, the counter moves are called "correction", "rest", or "consolidate".

      Make sure you get it right before posting nonsense like this - it's embarrassing, seriously, not just being a loser - losing may happen to anyone, but losing due to such common ignorance is plainly stupid.

    • A quick glance of this thread tells me the posters are now all new. I didn't see any id from 2007-8 period.

      The bottoming process lasted about a year.

      WNR was once the hottest refinery play. I was here shorted from $60 level. Covered in late 2008, and haven't looked back until recently.

      The sentiment has completely changed - this has been the dog for over a year now.

    • Sure hope this isn't as I don't, personally, like that phrase.

      • 2 Replies to norbertdt
      • Plus the entire refining sector is screaming today.

        TSO and VLO both were awarded gov contracts.

        While painful, the WNR sell off was not all that bad. WNR did not even test the 50 day EMA. In fact, if WNR stays where it is or higher, it will close back above the 10 and 20 day EMAs as well. The other positive is the 10 day never even tapped the 20 day, thus no crossover to worry about. This was a normal pullback thanks to RCB. If the volume continues and WNR starts moving up again, IMO the short squeeze may REALLY start. I do believe however, many of the short shares have been short from $30, $40 and some even higher, so a bump to $10 is not TOO big a deal to those folks yet. However if WNR can break over $15 or so, the big shorts will start getting nervous and the real squeeze will start.

        Still lots of work to do...

        IMO, it will all play out to the upside nicely over the next few years...

        GLTA

      • neither do I my friend and this is not a dead bounce. The term defined by each consecutive peak in pps is less than the last until the pps is flat (short term support).

        Henry

    • Agree, I do think we'll see a bounce on Monday. We did find good support around 8.84 in the second half of the trading today. Bought some at 8.85.

      GLTA

 
WNR
43.64-0.76(-1.71%)May 27 4:02 PMEDT