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Alon USA Energy, Inc. Message Board

  • bcmtmnewbold Sep 17, 2013 6:31 PM Flag

    ALJ is breaking down

    The stock can't seem to find any footing - ALJ is making new 52-week lows while the market is making or testing new highs. While the group is lagging, ALJ is getting crushed, down about -41% year to date and down almost 50% from its high in February. The downside volume really accelerated late in the trading session as crack spreads were off $1.00+ on the 321 cracks. More importantly, the crude differential between Brent and WTI narrowed to $3.08 so margins are getting crushed. It is going to be very difficult to make any $$ in Q3 and the stock looks like it is getting ready to get "flushed" into the single digits. The 200-day moving average is at $10.36 and if we don't hold the 200-day, the high $8's look very likely. The longer term picture is better but we need the Brent/WTI differential to widen or its going to be a tough Q3 and Q4 - this is going to get really bumpy.

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10.56-0.86(-7.53%)Feb 5 4:02 PMEST