I bought 10,000 Western Refining, Inc. [[WNR]] @ $10.55.
Disclaimer: If you buy WNR because of this post, you will come down with an egregious case of appendicitis. And, you may lose money.
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Check out this foolishness:
http://bespokeinvest.typepad.com/
“A few minutes ago, CNBC’s Charlie Gasparino reported that in discussions at the NY Fed regarding the fate of AIG, the prospect of the government providing some sort of assistance was on the table. On that news, the S&P 500 staged a 1.8% rally in a matter of minutes. In terms of market cap, the S&P 500 added $192 billion. Minutes later, that $192 billion evaporated when another CNBC reporter said that the government’s previously stated position regarding AIG (of providing no assistance) had not changed. When hundreds of billions of dollars are created and erased in a matter of minutes like this, saying that the market is in a state of anxiety is quite an understatement.”
You dirty whore. I encourage everyone not to click on the link above.
For clarity:
I am not submitting Bespoke is foolish.
Quite the contrary.
It’s nothing more than a feeding frenzy. And when the dust settles we will all look back and say this was a good time to be a buyer
Fly — you still long AIZ btw?
AIG is on track to trade over a billion shares. If it does, is that a record?
Shit, sometimes in August, the whole Nerdsdaq doesn’t trade a billion shares.
This market intraday is getting ready to SPRING. We are going to get the typical 2:15 market fuckery on this fine Tuesday.
I am betting on “no cut”, and the market gets SHOCKED by this, and drops 250 points.
I see a nice bear flag on the DOW, the fall lower could be huge.
Fly you making WNR a core position?
Crack Spread : $14.65
Down from $15.20 and $15.60, last two days.
Crack Spread is NOT increasing. According to my calculations.
AXA is greeeeen!
(time to hit it wit a I-beeeeeeaaaaam!)
__
hov and KBH are up on the day and have hardly fallen from last friday. Interesting.
I wonder when the market realizes that HBers still friggin suck and none of them should be trading above book
A freakin closed end bond fund is making my bottom line red – without it, I would be green. If LEH had been purchased, the DOW probably would be 700 points higher now.
Hey ShortBus, where you find the crack spread?
Thanks Man
Munky8:
I calculate the crack spread using the formula as per this posting.
http://www.ibankcoin.com/peanut_gallery/index.php/2008/09/14/calculating-the-crack-spread/
The actual number is not important, it is how much it is moving relatively each day. Right now it is down, and stable at about $14.25. Certainly not getting any better, even though oil is going up and down.
Gasoline is moving tick for tick with Oil, while the Heating oil is staying stable. Hence Crack Spread stays kindof flat.
motley fool a fly fan? came out today WNR destined for greatness….link on yahoo finance page for WNR