MPC is a monster at making $ on the spread.
1) Brent going up on declining $.
2) MPC aggressively reshaping their refining to export in a big way.
3) MPC expanding refining capacity.
4) MPC major capability on processing sour crude.
I am thinking Abby firms call is very plausible.
The panic selling from folks that sell and ask questions later.
I just buy, buy on these dips. This is going to $20 no matter what. The prospects of this drug are enormous. Albeit DRTX is banking on it. I am too. I seldom every lose $ on these biotechs. I been through this playbook many times with this type of manipulation.
If you like doubling your $ buy and hold...IMHO.
Depending on the chart method you use the floor IMHO would b $35 to $35 on a normal market correction of 5%, $34 on a 10%-12% correction or 32.5 on a complete technical breakdown. What would counter that is MRO on a P&F had a Bullish Catapult breakout on 11/17 with a price objective of $60. Other positives is it is cheap compared to peers on growth rate and forward PE. Last quarter changed market sentiment toward stock because it was pretty good, with a really good forecast. You can't go wrong with this stock just accumulating at these levels - IMHO.
I couldn't believe that either. What kind of DD does he do if he didn't know about the financing? He did say once they get more cash it would be time to buy. I guess that's now!
The deals they have been signing for their content are huge for future earnings.
IP reported a week ago for the same period as RKT. Container sales were good for IP. IP is taking business from RKT. I bought more IP yesterday. These take patience to play out. When this moves up again, I am looking for $55.
Think I'll add to my position today.
Refiners are currency profitiers. Buy WTI and sell refined based on Brent as the underlying base.
During quarter end firms buy more of the annoited stocks for window dressing, but downgrade stocks they want to buy next quarter. The way the game is played.
hit record levels between WTI and Brent, dollar will sink...making Refiners resemble the U.S. Mint. This is a two month about face until Fed does start to taper. It may not matter, the doveish Fed, Yellen, etc., the spread could remain for sometime until interest rates get hiked. Hope the dollar doesn't crash to bad. Load up on refiners. Tigntening was the reason for WallStreet pounding the refiners, now they got caught with their pants down. I bought more MPC, PSX, VLO yesterday after the announcement.