Read Barron's article, Refiners: after the slaughter
Analyst states WNR has large chemical operations. That's news to me! Anyone know what he is referring too? He puts a PPS target on WNR at $48. Shorty redleaf better watch this one closely :)) Timing is everything (almost).
im just waiting for the market to get one more good schalacking. refiners look like they have a case of the flu, and all the major indexes or hitting highs, but the macro data stinks. couple that with shrinking spreads, and i dont see a ton of upside.
not to say i dont like the company, i do, but just following a thesis
Your position makes sense to me. Jet stated it well in saying, historically this is not a good time of the year for refiners. As far as PPS, I don't see it dropping below $35 as long as the Midland-Cushing spread stays strong.