Carnage is taking place in the oil markets today, as men with exceptionally small brains fail to see the forest through the dense trees. More specifically, midgets in space outfits are selling refiners, ad hoc, despite the profit margins for said refiners going through the roof over the past two days.
Get this: crack spreads were up 5.5% on Friday and another 3% today. For the first time in months, there is a divergence between the price of refinery stocks and spreads. More importantly, you fuckers seem to believe a drop in crude equates bad times for refiners: WRONG. It’s all about the spread. Look at WTI vs Brent today. WTI is dropping harder and faster, which widens an already profitable situation for a company like WNR. In short, this short term pain will be rewarded with a “fuck you, you’re dead” short squeeze. We’re coiling back here and when the catapults are released, diseased bodies of bearshitters will be launched into the cities of those who bet again us.
WNR vs Crack Spread
Aside from that, the market looks like shit. The Cramer pump of MWW has worn off and OXY is getting punched in the cock. All laughing aside, I am getting boiled here, down 2% for the day.
However, for those of you mocking men of my stature and standing for buying dips: need I remind you of recent history? Ben Bernanke will smoke you inside of his tightly woven philly blunt. As we speak, Ben is watching CNBC and dropping his blunt ashes into an ashtray made from $1,000 bills, saying “I’m gonna get those bitches soon.”
You’ve been warned.
[youtube:http://www.youtube.com/watch?v=Ul5KYuNvqWI 616 500] If you enjoy the content at iBankCoin, please follow us on Twitter
The Fly is God.
wnr.bought it back. drinking blood ovah hea,
@ one minute to close
I just bought a few chips to go with today’s dip.
Love The Bernanke evocation. Ha!
At least blood trumps inane coffee chatter. Hasta fucking luego.
Long live chessNwine!
one of the few voices of reason
Fly, your arguments are very, very compelling. However April’s spreads are irrelevant for Q1 EPS. The right question is if there’s been significant divergence between WNR stock performance and the crack spreads from January up to now. As I could see here WNR has been following the spreads rather tightly ever since January. Isn’t all the good stuff baked in already? Or do you count on some sort of an operational leverage effect which would lead to higher growth in stock performance vs the spreads?
The only thing that is baked in is low IQ’s
wish WNR insiders agreed… they dumped ALOT in March
Wish you had written this post before the close! I was going to pick up more WNR today but I was feeling a little all cock and no balls!
Look at the time stamp.
3:52!
8 minutes is barely enough time to jerk off!
Indeud.
We make money tomorrow, right?
Just reread the “Fun with Numbers” post. What I really struggle to understand is how come analysts don’t write the same things as you. I mean, after all these are this industry’s fundamentals. Analysts covering the sector are supposed to already know this or have uncovered by this time!?
I was not wrong. It is time to sell, sell, sell the refiners. On tonights show we’ll talk about The Fly and calling me an idiot!
I think it would be cool if The Fly had a show just like Cramer — only thing– it would have to be on HBfuckingO!
The Fly is going to WAR with Cramer.
Fly what the he’ll is going on with china stocks sure are getting a ass kicking is it time to buy??
May I suggest keeping a keen watch on DPTR starting tomorrow? I’m looking to double up above .91 on this one..
WTF happened with this one? Chart looks perfect for the buying, but are there any fundamentals behind DPTR?
The company is a complete piece of shit. That’s what happened.
I am looking at some WNR and starting a position in CCJ tomorrow.
After Cramer said sell the refiners on TV, it would have been shrewd for anyone short WNR to have called and ask about WNR on Lightning Round because you know what his answer would have been. Sell. You know the answer before the question is asked and it makes it specific to a certain stock you want pushed down. Brilliant or lucky?
All the refiners are down for the third day in a row – how does Cramer specifying WNR make any difference? Also, smaller oil stocks are down – and other stuff – I see nothing specific about WNR – do you? Cramer is now talking possible market correction and apparently doesn’t like tech here either – so what? The guy is average – that’s all.
I sense a major about face by fly as he realizes that my powers to destroy his picks by buying the stocks he buys are stronger than his research.
What’s that? You don’t like stomach scissoring roller coaster ride buy and hold equities for your portfolio?
Well, sirrrah, then you’ve come to the wrong place!
______________
Low IQ’s are not limited to WNR. The drop in my silver stocks was overdone today.
today I was down 21%; wiping out Fri’s 17% gain & then some. They’ll be back.
Fun facts from Faros:
through 2011, any gains in private sector payrolls will be overwhelmed by a drop in public sector payrolls
a new record for food stamps – Jan 14% of the US population (44.2 million) now receives food stamps,
up from around 26 million in 2008.
recent reports suggest that 27% of homes in the US are now underwater
Banks hold significant foreclosure inventory 1) either are unwilling to sell them or 2) cannot sell them because paperwork is not in order.
Jan 37% of all home sales were foreclosures.
2006 the median down-payment was 6%.
Today it is 22%.
Health Tip: http://health.yahoo.net/experts/menshealth/most-dangerous-thing-youll-do-all-day
Want to diversify your cash?: https://www.everbank.com/personal/rates.aspx?tab=currencies