iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
20,692 Blog Posts

Still Winning

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]]

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31 comments

  1. Yogi & Boo Boo

    Indeud!

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  2. Pete

    Its easy to win when everything goes up….Everyday.

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  3. Frank

    Fly,

    You have been ICE COLD!

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  4. becauseiknow

    Fly, still like HBAN?

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  5. j

    Fly,

    What’s your best pick out of those refiners, if can boldly ask.

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    • JakeGint

      I thought you were a PPT sub?

      TSO is his largest refinah, but PPT says HOC is the “best buy” here.

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      • j

        Thanks jake.

        Yea I am a sub. Thought I get it from the horses mouth.

        Thanks.

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        • The Fly

          TSO

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          • leo

            Fly,

            TSO is a great pick. I’m in but i’m afraid of the market sentiment. Consumer spending reports are due tomorrow and friday. What’s your take on this?

            Thanks,

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      • leo

        Not sure abt fundamental but chart looks very good for TSO, imminent b/o. I am long since last Friday. It’s trading like a bitch at $13.54-$13.55 tho. Need a boost.

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  6. Juice

    Fly, you have been on point. Still holding a ton of FTK?

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  7. Cash-N-Guns

    with Jim Crack-head Cramer, Dennis ( i play with cats)Kneale, Joe”the oil bitch” Terranova,and retard pony tail pistol Pete Najarian all long and on CNBC..how could one not make $$$$…odd no?

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  8. chivo

    dude you haven’t bought any of the refineries yet…. unless you did it and didn’t post???

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  9. Richy

    Good grief Fly, did the bull painting fall off the office wall again?

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  10. tonya pinkskirts
    tonya pinkskirts

    doesn’t expensive oil kill refiner’s margins? Is this a demand play? What gives? I’m just trying to get filthy rich, I mean eating the finest all natural chocolate ice cream out of my belly button kind of rich.

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    • TheArtist

      don’t worry about how it works, just go with it……the thesis is solid (if a hurrican hits the gulf that is.)

      BTW looks like a good time to short AXL, now that GM will not sale another car past today……ha ha ha

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    • needle dick the bug fucker
      needle dick the bug fucker

      Last year when oil was well over 100 WNR was trading in the 10 – 12 range. There was some Hurricane priced in but just the same. Use a chart and over lay USO and WNR

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    • The Fly

      Gasoline will outstrip oil.

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  11. chivo

    I dont see where you posted your positions on Friday, but I’d love to take a look. Care to inform me?

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    • Attiie the Hun

      Chivalrous:

      take a look at the right side of the site and there you will find his buys and sells. Click on the buys and you’re off to the races.

      Thank me later. Not now, okay.

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      • chivo

        That is the first place I looked. The latest I see are TSO and SHO. But still, I’d like to see a list of positions more than anything…

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  12. ChrisbROWN

    Are you throwing SHO out the window as you focus on refineries, senor Fly.

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  13. tonya pinkskirts
    tonya pinkskirts

    you guys need to watch the history channel….the government controls the weather with radio antennae, called HAARP (google it). Since katrina they have created an artificial high pressure system that defends the gulf.

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