People fear the high price of gasoline will lead to demand destruction, which is why refinery related stocks are getting smashed. Being heavily invested in the sector, I’ve been clown raped in recent weeks. There is nothing to be upset over, since stocks trade on emotion, not reason. I expect the earnings to be spectacular. However, in the short term, it may not matter.
At the present, I am up 2% on my WNR position. Due to drawdowns in other stocks, like CVI, ALJ etc, my year to date gains are withering away, with no end in sight. My choices are clear: stick with my convictions and risk castration or lighten up for the sake of longevity. The potential downside will fucking vaporize my gains, AND MORE, setting me back months of hard work. In the big scheme of things, the money was NEVER MINE in the first place. I’ve made so much money over the last 5 years, it should be illegal.
At any rate, for those of you who cannot risk it all on a singular earnings announcement, my advice to you is “don’t.”
With summer around the corner and Bin Laden dead, enjoy your youth with excessive alcohol intake, whilst eating the finest foods this planet has to offer.
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