I am buying the refiners and doing it with style and in size. Before August is done, I will own positions in Western Refining, Inc. [[WNR]] , Tesoro Corporation [[TSO]] , Holly Corporation [[HOC]] , Delek US Holdings, Inc. [[DK]] , Alon USA Energy, Inc. [[ALJ]] and Frontier Oil Corporation [[FTO]] . Naturally, should a fierce, gold chain wearing, hurricane come barreling through the Gulf now, I will sell my refiner stocks for 25%+ profits. But, without a ‘Cane of Horror and Death, the refiners are due to run anyway.
Additionally, if you are short Flotek Industries, Inc. [[FTK]] , as a money manager, it is your fiduciary responsibility to cover your position. It is INSANE to be short FTK, in the 1’s, while in the midst of a hurricane season. With 25% of the shares sold short and financing shored up, I believe the stock is about to go on a “banana run” back to $2.50 minimum.
As you can see, the market does not want to trade lower. There are many FAZtarded individuals out there, who are gluttons for capital losses, via betting against this rally at every turn. However, for me, with over 60% gains year to date, there is no reason for me to try to time the top via short sales. Instead, simply, I will raise cash and wait for a better buying opportunity. Nonetheless, right now, this bitch is not done going higher.
Top picks: TSO, FTK, Hercules Offshore, Inc. [[HERO]]If you enjoy the content at iBankCoin, please follow us on Twitter