Keeping real..... As I stated last week , I have now completed my backing out of the equity market with only a few exceptions:
1) no change in XOM and PXLW .... Reduced VLO green core
2) did not sell trading bag submarines ( ati, nsh, pbf, hfc, tqnt , vlo)
Sold all small cap, medium cap and large cap funds. I also sold some green bond funds .
Little upside ...... Big downside imo.
Lots of dry powder ......
Perhaps you could remind us why you see little upside and big downside. Also, does your opinion apply to the market in general or just the small universe of stocks you trade?
yesterday, 2 headlines in Barron's:
-- "Credit Suisse We are lowering numbers on the independent-refiners sector. We are also concerned that fourth-quarter 2013 and 2014 earnings-per-share estimates are too high for the group."
-- "No, It’s Not Time to Buy the Refiners, Deutsche Bank Says."
So Ah, you are correct, for the balance of 2013, it appears the big money is backing off buying refiners.
nope....I reported last week that I exited after sooz put up his post.....as usual he gets TSO right more then wrong....