heya allen. hope things are well. i dont really have any thing positive to say about the refining sector in general or the energy patch, other than most of us have taken profit at some point or another. If oil continues its free fall, i suspect additional pressure in the sector as fund managers look to punt their losers and off set gains for tax purposes and to spit-shine their respective portfolios.
however, what goes down does go up and thats where the real dollars are made. i think we have a ways to go and need foreign central banks to get aggressive on their economies to spur demand. when that happens, i think the sector will bottom out. i just hope the small and medium guys have enough cash flow to fund their operations until then. otherwise, they'll either have to take on more debt, issue a secondary, or combination of both. either way, its not friendly to share holders.
The only thing im holding right now is tasr, the rest is in cash. ill wait until jan. and reevaluate then.
bought in for a second trade yesterday after the blood bath. sold today for a single and some change. will do it again on the next tank. tasr is still the leader with little real competition and relationships. still, have to love trading momentum. gl to all.
expensive stock they are buying. they should be paying out the cash as a dividend or growing the brand, rather than the nonsense answer the cfo gave.
and sell sell sell!
howdy. i was working on my dissertation. at some point id like to never look at it again. i got out of pbf on monday with a modest profit plus the divy. im out of refiners completly at this point. currently have sune, peix, tasr shares and calls (i got in before the ferguson deal so that was luck), kkd puts, aal, and day traded dlgy. id like to pick some gpro. hope youre doing well