Some high flying stocks like vlo, dk, hfc are taking a hit. Some broad mkt selling hitting the momentum stocks shaking out weak length. Wnr valuation is about the best in the group and I would use this drop to scale into more length before earnings.
Regarding the fed dialing back qe3. Haha. Employment will suffer thanks to higher taxes, obamacare, slower global GDP etc. keep dreaming if ou think the economy is out of the woods without the fed buying all the treasury's dope!
do you trade it while scaling in? Like selling some ...take a profit then buy back more on dips.
I prefer that to just buying on dips.Worked well today i the roily market which turned sour in the last hour or so.
All six of my fave refiners (HFC CVI PSX TSO VLO WNR) were hard hit.
After the close,HFC announced a 30 cent regular divy PLUS a 50 cent special divy,all due in near future.
Have the faith...put in a very loball bid before the market opens in the morning;the nervous nellies will sell out at market.making the prices fall out of bed,below the Bollinger Bands....BACK UP THE TRUCK