It will trade with low resistance back to mid 8s, low 9s. Any spark of news, (increase in sss) and she blows into the teens. So shorty......"do you feel lucky?" Well, do ya?
Sentiment: Strong Buy
Hey Genius, spreads are up 3% and thats for the next 10 minutes. Shorty is toast with the Libya debacle.
Let's see what comes from Macys next week in their cc, especially their cotton concerns and guidance. Cotton has been in play for several months with mixed results sector wide. Still believe liz has found a bottom last Thursday.
Buy this slow turnaround story at the current pps. Traded 8 times the volume yesterday, I believe a bottom is in. Losses narrow each qtr. Outlook appears to be creating a good long term investment.
The 17 isnt the pps it's headed to, 17 is what wnr is trading times forward earnings and a tad rich. Time to take a little off the table, she's getting ripe for shorting. SUN is one of the few others trading at 17 but it has a positive profit margin, wnr does not. Which of the two have true valuation? Many have made money here, I'm out waiting for the pullback. Bulls make $$, Bears make $$ Hogs...Some are drunk with giddy and glee, some even love their wnr stock, it's not money in the bank until you cash out. Your unrealized gains can evaporate 20% on the day in a flash. Tread lightly and be nimble.
All stocks go up and down, and for many reasons. The evils of the market (momos) money managers will take out stops or short or do anything to shake you out when they have "inside info" on a stock's upcoming direction, levered to a company's positive catalyst. Yes, it is a rigged game. Panic selling never made anyone money. Been long this stock, traded around the core, wnr has been good to me, but I got in at the bottom, as of the other day I sold the total position as imho the stock had an unusual run and within the last two sessions and 300 points to the upside, the stock is wavering and the overall sector is trading sideways. Keep your ear to the ground and follow the money, whatever sector is loved by the street that is where you need to be, as long as the underlying fundamentals are good. But, it sometimes lasts for two weeks or a year, good hunting on that one. There is a limited amount of brain power on this mb. Problem is, when a stock has a good run such as wnr, it attracts some dubious folks. I don't post much here of late because it just isn't worth the time, but hopefully this has been beneficial. Don't buy any hyped stock..let her go. Good luck to you, Ned.
Quite the pop on the dow, low volume on wnr, this baby has had a great run on questionable fundis at the current pps. Been a great ride. Cashing out today, total position, and thank you for the nice double. See you in the 6's. Time to short. Take your profits and don't fight it, thank me later. Ned.
Wild, appreciate your input. I have an avg of 5.94, so i am willing to ride this. I believe even with todays tape, the support holds at 5.80. Will keep your thoughts as I continue to watch ckec. The whole mkt is in Ben's hands tomorrow. Best of luck with your holdings.
If this market sells down too much further, (and I believe we are near the correction bottom), but if this does sell down more, you will have hedge funds gone wild all over again. That is a force no one can tame. So while charting plus 50 dma and wider cracks all speak upside, one has to address the direction of Mr. Hedgie. No telling where the hedge fund bottom is. Asia is selling as we post tonight. But again, hedge funds aside, many pps look like a bargain including refineries. jmho, but I refuse to take the hits we all did in 2008 and March 2009. That sting is still on the mend market wide. Just a caution about the unknown strategies at work.
1/2 the nation generally needs snow removal once in a while. The entire nation has grass and is mowed an average of 5-1/2 months per year. Calculate the square footage of the USA and you will have your answer on the grass mowing/snow removal ratio. My money is on the grass. lol...what's next?
I'd throw my hat in that ring too. With last week's sub 5 gift, I'm averaging a very nice 4.88 large. Have I traded around the core...you betcha, have I added to the core...absolutely.
I thought the same about not much uptick while big boys accumulating. Either way, my strategy in wnr is paying off. Never thought sub 5 would happen again and hope all were able to add last week during that small window of chance.
Wall street now annoints the refineries. Hope all used these last few sessions to add accordingly. Good luck and congrats to all longs. Wisi,my123, cover before your broker forces margin.
I see that JP Morgan also added more. Schwab, Credit Suisse and Vanguard as well. Will shorty fight these houses too?
Bogey, those spreads are breaking out. Keep the emotions off the sleeve and take her through cc. Look at the sisters, vlo's volume is talking pretty loud of recent, and we're getting a boost from the very unfortunate gulf oil spill, from those that "get it". tso was battered and recovered very nicely. I've been accumulating since the very low 4's, been following the hardcore oil traders and -- wnr... this red headed step child will prove to be a trump card, and diamond in the rough. Watch the run up before earnings. Even momo can't manipulate forever. Ned.
blows into the 6's and squeezes shorty some more, which as most know....encourages further buying. I would tend to trust CVX over most assclown bashers and shorts here tonight. And aren't they out in force on the various mbs tonight? What will they say in the 6's, of 7's or the crazy 8's even? Short toast served up tomorrow morning.