Reason to own is they will be bought out. To many starved big Pharm a's for growth and a pipeline.
More importantly days to cover have more than doubled based on daily volume shrinking. Problematic for short hedges. Just don't sell. This will recover fast. Looking pretty good at these levels to add some more.
Second 1/2 bodes well for refiners. IMHO.
The next 6 months look really good for refiners.
You don't need a large sales force. You mostly have to cover hosptials. 1 Salesperson can cover a large territory.
Refiners have a high beta. Price targets haven't changed. No sense in selling now. They are the best value in the market., and have probably bottomed. Bottom will be tested today with the sell-off in Portugual bonds, even though markets knew they were worthless to begin with.
It makes sense now more then ever. MRO has always wanted to stay independent. I don't know about the new CEO and his thoughts. These articles on MRO being an ideal buyout candidate keep flowing. Its like throwing a piece a meat out in a hog pin. May spark a feeding frenzy. Or at least a couple of offers.
Ignore the amateurs on charting here they have no clue what they are talking about. I did it for a living under John Murphy. Fundamentals are too strong. Added pipelines increasing the volume of discounted oil flowing to refiners from now through the next several years.
just my opinion.
I am buying today.
Yeah I thought Funds would be getting refiners off the books prior to close. Hated last quarter. Maybe the same funds will be buying again starting tomorrow. They will be loved again. Unfortunate that the hysteria on the export ruling, which now turns out to be nothing, happened a week prior to quarter close.
Extremely rare not to bounce back from this level.
investlong1. Actually if you read Credit Suisse analysis of the pricing of Dalbavancin they obvioulsy say Durata is banking on the selling point of not being hospitalized for 2 weeks. They had a comparision of savings which is substantial to hospitals and insurance providers. The prices is the same as cubicin, which I think is brilliant. If you are a Dr. or on hospital staff you are going to look at both and the choice is obvious to free up a hospital bed for additional revenue. The HMO's will definitely be pushing this to Dr's and hospiitals as well as Durata. I think the pricing strategy is genius. IMHO.
I don't think so. This flushed yesterday, major capitulation. I am a buyer.
Looks like alot covered at 43million shares traded. The story was definitely embellished to allude to lifting the export ban, but doesn't appear to be the case. I think the story was distorted by hedge funds to cover. Iraq changed the spread to be on a path of widening, which caught large short positioins in a trap.
I agree, there were massive short positions. The Iraq situation had them trapped. They couldn't stick to the narrowing spread theme because Iraq reversed it, and it looked like the refiners were set up for one heck of a run.
What is allowed (light condensate) to be exported is insignificant.
be processes through a refinining step here.
The volume is nil.