Because market manipulation still reigns supreme + the big boys watch out for themselves. Should have known better + sold yesterday as I figured the jobs report would be bad + the market would sink. I posted that yesterday but yahoo nuked it. I don't see any major beat on Mon + no special will cause the stock to sink. Ironically, every time they doled one out the stock still sank. Might as well sink with cash in the bank.
The new rules, which will increase the money needed to trade futures for some exchange members, are set to go into effect in 90 days, and not Monday as previously expected.
The CME Group, the U.S. top exchange for futures, said in a news release late Thursday it had sought and received the 90-day extension to “work with the CFTC to address member-customer concerns.”
I.E. we need to give our big customers time to unwind those losing positions so watch for more manipulation in the crude pits until they get it done.
The stock is down 7% on the week + the entire sector is getting slammed. What do you expect here on earnings that the rest of the group hasn't done? Everyone beat estimates some handily + they all fell. This stock has fallen on earnings 2/3 reports, they beat estimates AND announced a special and the stock still fell in each Q.
The market can stay irrational far longer than people are willing to stand + they exit, fundamentals count but not short term. If they hit 1.30 the P/E will drop here to 4.6. the forward P/E 2013 is 7.3. Then add in cash IF they don't do anything stupid with their cash flow and they have well over 2BB in net cash at the end of 2013 PLUS their stake in HEP, that includes them paying a 2%+ regular divvy and the buy back, assuming they are buying anything.
Tomorrow is D Day for HFC. Down down down. Any miss in their financials and it will be down down down and great is the odds of them missing on something so buckle up your seat belts because it will be a rough ride. (I have mine buckled up because I am long the stock, stupid me)