For whatever its worth...I've been trading WNR, HFC, TSO, VLO, and DK, but I'm out on all of them except for DK which has had a heck of run in the last 2 weeks. I'm selling all my DK next week ahead of earnings, don't want to risk a pull back. I think all these refiners are getting a little top heavy and while I think the debt ceiling is nonsense, I don't want to be around to find out. GLTA if you stay in for the long run, but I'll wait for a pullback before I take any new positions. I have made a lot of money in both WNR and DK since their IPOs and they are solid companies with solid managment, but ripe to get ripped by some hedge fund specialist. Again best of luck to you guys.
Hi redleaf, sounds like you've been around the block a few times :)
I'm also out of these refinery stocks, except for HFC. I mostly trade options and have been priced out by the current surge in these stocks. I'm also out because of the Washington politics. We could easily see a 10-15% hit on the markets if these clowns perform at their best!
Regardless, I will be invested in US refineries this Spring/Summer in anticipation of an Israel attack on Iran. It's sure to happen. I think that at this time the hedge funds are our (refinery)friends. GLTY
Maybe WNR but HFC would be the one doing the buying IMO...Long term the buyer is who to go with but short term they get axed. Cant help but look back at where these were a couple years ago.. Think WNR was under $4...
Dale, stop living in the past! Yes, WNR was a great buy at $4.30. I bet Bogey still wishes he had some of those share he bought back then :)
This is a volitile stock. Keep hitting the lows and peaks best you can. There's still alot of room to make a profit here! GLTY
I absolutely agree with northern. I actually switched from WNR to HFC and have done really well. I'm still kind of on the fence because WNR could actually do better, but the net result from all of my mental gymnastics was that I feel that HFC is the way to go. Of course, it all depends on price. If WNR would just take a dip, I might switch back! Actually, I was watching it on the last dip, but missed my chance and I didn't want to sell any of my HFC because it was also low. I doubt if you could go too wrong with either one. I also believe that these companies that have historically paid a premium for oil, have a lot of upside in spite of the recent gains.
Dale, given the same size operation, HFC profits will drop off over this time period from current levels that are crazily high. But, HFC will continue to do well do to great crude sources, refinery locations and no net debt. I like the company alot!