So, short interest increased to 4.5% from 3.5% between the July 15 report and the July 31 report, but the huge short attack started on Aug. 4, (ex-dividend day) and has persisted since then. I wouldn't be surprised if the current short interest is between seven and ten percent. What are they thinking?
Good points on the West Coast situation helping gasoline cracks in Utah, New Mexico and points west. The Rockies gasoline cracks are also being helped by this. Gasoline prices are strong in Colorado and Wyoming. Gasoline cracks in the MidCon area are phenomenal, but not as strong as the Rockies and New Mexico area. Diesel cracks are weaker due to poor diesel demand, but a lot of money will be made on the gasoline side which is the biggest part of the business.
The projected thruputs for the June quarter and beyond are very strong. With these cracks, we just have to hope we don't have any operational problems. The stock buyback is also going to add a lot to the EPS going forward..