Market is high because there is no better place to put your money. It looks like the market expects the sequester cuts to be resolved. But, Obama meeting with workers in a Newport News shipyard today pointing the finger at Republicans tells me there will be no last minute resolution of the sequester cuts. The timing is terrible for WNR. A little miss against high expectations and a downturn in the market sends this thing reeling downward. I like the company and I like the fundamentals. I'm getting the same feeling as August 2011 when WNR missed at the same time the market caved in due to our inept Congress driving a drop from 21.75 to 13 in ~4 trading days...I'm a little puzzled by the low amount of selling by insiders. Took half off the table and went to the window.
I sold out of WNR yesterday over HFCs miss. I expect the analyst estimates on WNR is too high also. Will lay in the weeds until this sequester #$%$ is over. Looks like the market and the whole economy is a house of cards. Might go back into metals.
Dale, HFC is current up $1.25 over the close before earnings. I guess investors first reacted to the miss and then after studying how GREAT the numbers were, chose to buy the dip! WTI based mid-cons are awash in cash! Good luck to WNR longs tomorrow!
Dale,admire you for making a decision,and selling.But this damn stock is so unpredictable and manipulated,you hardly know what to do .For example,it is up now $1.85. I trade also,using the 5day chart w/a 5sma as my #1 tech signal.Not perfect,but really helps.Also the 6 western refiners mostly act in concert,as the black boxes kick in.
I am retired and have the luxury of watching it closely.Doubt I could trade it well otherwise.GLTA