I added to my ALJ position, below $12.60.
UPDATE: I bought ERY
Disclaimer: If you buy ALJ because of this post, crack spreads will go to zero. And, you may lose money.
Joined Nov 10, 2007
23,443 Blog Posts
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I think the refinery trade is over. Time to unwind your WNR position.
who the fuck are you?
Honestly, I believe the refineries have risen this far because of the expected rise in crack spreads. WNR is up 300%+ over the last 6 months. That reflects the nice rise in crack spreads we have seen. I don’t see cracks staying this high for much longer. The government will do something similar to what they did to silver to ensure that refining companies are not gonna rape the public.
BANNED
you all need to look at options chains before you dis some thing. especially wnr.
Zoom out. ALJ is heading south – broken uptrend.
agreed.
So if I buy ALJ because of this post, you’d lose money? Someone might do it just to spite you and your WNR.
Focus on oil futures. In particular the May 11 contract around 101.10 area.