A quick look at the charts of the oil prices from 2007 thru 2009 it looks like the refineries fell off a clif when oil went to $150 a barrel. Think this is a great subject for arguments here. Please post what you think..
I own a ton of WNR and other refiners. I would not say that Cramer is an "idiot"....Its just that he, like all those other "experts" on CNBC, Fast Money, etc or basically of no real help to any investor...They are mostly arrogant, manipulators, and monday morning QB's.......Now I admit I do listen to them, but I can honestly say that I never acted on any of their recommendations.. In fact, I have done at times the complete opposite of what they suggested. Ok, so Cramer says sell WNR.. No problem...Let people sell it or short it. Not me! I would not consider selling one of my shares for a penny less than some where in the area of the 20's. I know this company very well as well as the refining sector as a whole. They are going to have an explosive year and maybe even an explosive 2 to three years. But again, let them sell at 17, let them short.....I am relaxed and confident.....And as for Jim.....Well, he is sometimes right, and sometimes dead wrong...D