These refinery stocks started their run before any trouble rose in the Middle East. Oil scarcity doesnt help the refineries. Its all about the Brent-WTI spread. Id watch that and crackspreads. Last time when the refineries went on a tear oil was in the $60 range.
From someone who has never had a position in this stk.. In looking at this stk.. I think it is over valued and should come off.. Guess what.. Most likely that is what every joe six pack believes also.. As has been demontrated, that yall admittedly sold to early... As yall have bailed and ole joe is buying puts now vs calls, betting it will go down.. Thats why the manipulators are driving it higher.. And if ole joe will continue to bet them.. They can't drive it higher.. There is no telling what they will drive it to.. For a stk that had 1 cent in earnings in 2010.. And is projected to earn $1.00 in 2011.. It should go down... Watch the option brd.. If ole joe keeps buying puts.. They will drive it higher.. Forget about what you think a stk is worth.. Just try to figure out what incentive the manipulators have to drive it up or down..