The refinery stocks are not really buy and holds in my book, but excellent trades 2-3x a year. Their value ebbs and flows with the 'crack spread' - which is essentially the difference between crude prices and gasoline prices. There is a small host of companies to play in this sector, including Valero Energy (VLO), Tesoro (TSO), Frontier Oil (FTO), Western Refining (WNR), and Holly (HOC). Western Refining seems to be the favorite of traders and the most volatile (and most highly valued), while Valero is the Microsoft of the space, if you will.
I had started a position in Frontier on Monday, to which I added 150 shares. I also started a new position in Western Refining in this morning's sell off. Both stocks are near to support levels on their charts; WNR to its 50 day moving average, and FTO to its 200 day moving average.
While crack spreads have been narrowing (leading to a reduction in the stock prices), I will be building positions that will probably hold for a few months as we enter the fall. Again, these are not stocks to really buy and hold for 3 years, but with their volatility can be nice longer term trades if one has patience.
FTO now is up to 2.6% of the fund's holdings, and WNR 1.4%
Long FTO, WNR
Thursday, August 9, 2007
Building refinery exposure: Frontier Oil (FTO) and Western Refining (WNR)
Posted by
Mark
at
10:00 AM
Building refinery exposure: Frontier Oil (FTO) and Western Refining (WNR)
2007-08-09T10:00:00-04:00
Mark
Frontier Oil|
Holly|
Tesoro|
Valero Energy|
Western Refining|
| Edit This Post |
Create A New Post
Labels: Frontier Oil, Holly, Tesoro, Valero Energy, Western Refining
Building refinery exposure: Frontier Oil (FTO) and Western Refining (WNR)
2007-08-09T10:00:00-04:00
Mark
Frontier Oil|Holly|Tesoro|Valero Energy|Western Refining|
Subscribe to:
Post Comments (Atom)
Financial Blogroll
- FinViz.com
- Euro Pacific
- Zero Hedge
- BeSpoke Investment
- The Big Picture
- Newsflashr
- Wall St Cheet Sheat
- Baseline Scenario
- Naked Capitalism
- Abnormal Returns
- TickerSpy
- FT.com Alphaville.com
- Calculated Risk
- Infectious Greed
- Financial Armageddon
- Wall Street Window
- Mad Hedge Fund Trader
- Real Clear Markets
- Matt Taibbi Blog
- 24/7 Wall Street
- The Daily Bail
- Cumberland Advisors
- NYMag
- All About Trends
- Market Oracle
- Markman
- Notable Calls
- Carpe Diem
- What's Trading
- Finz.tv
- UpsideTrader
- Zentrader
- Investment Postcards
- Dealbreaker
- Stock Trading to Go
- Toro's Running of the Bulls
- Barron's Tech Trader Daily
- FINAlternatives (Hedge Funds)
- Money and Markets
- StreetInsider Analysts News
- Blogging Stocks (AOL)
- The Daily Reckoning
- ETF Trends
- Hedge Fund Consultant Blog
- Get Rich Slick
- Guru Focus
- Fundmastery
- The Fly on the Wall
- Bill Gross PIMCO Archives
- MrSwing.com
Our Readers' Websites
Industry Focus Sites
Some Mutual Funds That Perk My Interest
- CGM Mutual (Kenneth Heebner)
- CGM Focus (Kenneth Heebner)
- Quaker Strategic Growth
- Loomis Sayles Mid Cap Growth
- Bridgeway Aggressive Investors
- Eaton Vance Multi Cap Growth
- Saratoga Large Cap Growth
- AFBA Five Star Large Cap
- American Century Vista
- American Century Heritage
- TCW Growth Equities
- Dynamic Power American Growth (Noah Blackstein)
- Dover Long/Short Sector Fund
Weekly Most Read
- 1: Warren Buffet Piles on Europe
- 2: [Video] Jim Chanos Returns from Europe, Even More Bearish on China
- 3: A Chart to Open Our Eyes - Staggering Changes by Multinationals in Employment Behavior 00s vs 90s
- 4: Futures Blasted on Dexia Woes... and Poor Preliminary China Data
- 5: Market Working to Worst Thanksgiving Since 1932
- 6: Et Tu, German Bonds? Poor Auction Raises Eyebrows
Archives By Date
-
►
2011(1304)
-
►
12/11 - 12/18(11)
- Market Montage Officially Launches Tomorrow
- Goodbye and Goodnight Fund My Mutual Fund
- Nothing Much from the Fed Other than a Few Words C...
- [Videos] Howard Davidowitz Grumpy as Usual
- Bad Economy? Yeah Right - Not in the Farming Heart...
- Marketwatch: Why Did 24 Hour Trading Never Take Of...
- Still Holding On
- Some Caution Now Technically on the Gold (GLD) Tra...
- USA Today: As Bernanke Punishes American Savers, t...
- Risk Off for the Day it Appears
- Zynga (ZNGA) Heads the List on Busiest IPO Week Si...
-
►
12/04 - 12/11(29)
- Move Day Next Week
- Update on the Battle of the 200 Days
- [Video] ECRI Still Sticking with Recession Call De...
- DuPont (DD) Warns this Morning as "Decoupling" The...
- There Was Just another Rumor Released Via a News A...
- Q3 Was Not a Good Quarter for American Wealth - Wo...
- The Battle of the 200 Days?
- Ford (F) Halted, Reinstates Dividend
- [Video] Marc Faber Visits Bloomberg
- Draghi Announced 4 Non Standard Measures at Presse...
- ECB "Only" Cuts Rates Back to Record Lows by 0.25%...
- And... IMF Official Denies Rumor
- Need a Rumor to End the Day Right? Got One
- Are We Making Too Much of the Drop in Labor Force ...
- A Lot of People are Living the "College Lifestyle"...
- [Video] Bob Prechter is Back... and Shockingly, St...
- The Journey to Nowhere Has Been a Wild Trip Since ...
- S&P 1265 Again
- Who Wants Action?
- Some Days....
- If the S&P 500 Was Equal Weighted Rather than Mark...
- [Video] Tom DeMark Says S&P 1330+ by Christmas, wi...
- Just about Every Country in Europe Downgraded
- GMO's Jeremy Grantham's Q3 Letter: The Shortest Qu...
- FT.com Report S&P to Put 6 Euro Nations on Credit ...
- Steve Liesman of CNBC Still Believes no ECB Bazook...
- Uncle Buffet Has to Be Pleased about the Bank of A...
- ISM Non Manufacturing 52.0 vs Expectation of 53.9
- Back to (the New) Normal
-
►
11/27 - 12/04(30)
- No Posts Today
- Average Foreclosure Time Sets New Record of 631 Da...
- Were Yesterday's Actions by Central Banks, a Way t...
- Big Drop in Hedge Fund Exposure to Market in Q3
- ISM Manufacturing 52.7 vs Expectations of 51.5
- And There Goes Another of the Former Teflon Stocks...
- Official Chinese PMI Figures Confirms Last Week's ...
- Best Day Since March 2009
- Junk Stocks Leading, Not a Great Sign
- "Risk On", "Risk Off" Has Officially Jumped the Sh...
- ► 11/20 - 11/27(20)
- ► 11/13 - 11/20(30)
- ► 11/06 - 11/13(32)
- ► 10/30 - 11/06(30)
- ► 10/23 - 10/30(33)
- ► 10/16 - 10/23(30)
- ► 10/09 - 10/16(23)
- ► 10/02 - 10/09(30)
- ► 09/25 - 10/02(31)
- ► 09/18 - 09/25(30)
- ► 09/11 - 09/18(33)
- ► 09/04 - 09/11(27)
- ► 08/28 - 09/04(24)
- ► 08/21 - 08/28(35)
- ► 08/14 - 08/21(23)
- ► 08/07 - 08/14(28)
- ► 07/31 - 08/07(36)
- ► 07/24 - 07/31(21)
- ► 07/17 - 07/24(27)
- ► 07/10 - 07/17(21)
- ► 07/03 - 07/10(21)
- ► 06/26 - 07/03(25)
- ► 06/19 - 06/26(20)
- ► 06/12 - 06/19(30)
- ► 06/05 - 06/12(18)
- ► 05/29 - 06/05(29)
- ► 05/22 - 05/29(28)
- ► 05/15 - 05/22(29)
- ► 05/08 - 05/15(28)
- ► 05/01 - 05/08(30)
- ► 04/24 - 05/01(26)
- ► 04/17 - 04/24(28)
- ► 04/10 - 04/17(30)
- ► 04/03 - 04/10(26)
- ► 03/27 - 04/03(20)
- ► 03/20 - 03/27(12)
- ► 03/13 - 03/20(22)
- ► 03/06 - 03/13(29)
- ► 02/27 - 03/06(20)
- ► 02/20 - 02/27(19)
- ► 02/13 - 02/20(22)
- ► 02/06 - 02/13(29)
- ► 01/30 - 02/06(34)
- ► 01/23 - 01/30(29)
- ► 01/16 - 01/23(18)
- ► 01/09 - 01/16(21)
- ► 01/02 - 01/09(27)
-
►
12/11 - 12/18(11)
-
►
2010(1727)
- ► 12/26 - 01/02(10)
- ► 12/19 - 12/26(16)
- ► 12/12 - 12/19(29)
- ► 12/05 - 12/12(30)
- ► 11/28 - 12/05(44)
- ► 11/21 - 11/28(23)
- ► 11/14 - 11/21(39)
- ► 11/07 - 11/14(44)
- ► 10/31 - 11/07(45)
- ► 10/24 - 10/31(37)
- ► 10/17 - 10/24(42)
- ► 10/10 - 10/17(34)
- ► 10/03 - 10/10(45)
- ► 09/26 - 10/03(35)
- ► 09/19 - 09/26(42)
- ► 09/12 - 09/19(43)
- ► 09/05 - 09/12(28)
- ► 08/29 - 09/05(29)
- ► 08/22 - 08/29(24)
- ► 08/15 - 08/22(26)
- ► 08/08 - 08/15(32)
- ► 08/01 - 08/08(36)
- ► 07/25 - 08/01(35)
- ► 07/18 - 07/25(33)
- ► 07/11 - 07/18(35)
- ► 07/04 - 07/11(27)
- ► 06/27 - 07/04(37)
- ► 06/20 - 06/27(39)
- ► 06/13 - 06/20(37)
- ► 06/06 - 06/13(33)
- ► 05/30 - 06/06(28)
- ► 05/23 - 05/30(31)
- ► 05/16 - 05/23(41)
- ► 05/09 - 05/16(35)
- ► 05/02 - 05/09(34)
- ► 04/25 - 05/02(26)
- ► 04/18 - 04/25(22)
- ► 04/11 - 04/18(30)
- ► 04/04 - 04/11(25)
- ► 03/28 - 04/04(21)
- ► 03/21 - 03/28(35)
- ► 03/14 - 03/21(41)
- ► 03/07 - 03/14(40)
- ► 02/28 - 03/07(37)
- ► 02/21 - 02/28(25)
- ► 02/14 - 02/21(23)
- ► 02/07 - 02/14(33)
- ► 01/31 - 02/07(37)
- ► 01/24 - 01/31(45)
- ► 01/17 - 01/24(37)
- ► 01/10 - 01/17(37)
- ► 01/03 - 01/10(35)
-
►
2009(2099)
- ► 12/27 - 01/03(21)
- ► 12/20 - 12/27(33)
- ► 12/13 - 12/20(38)
- ► 12/06 - 12/13(38)
- ► 11/29 - 12/06(37)
- ► 11/22 - 11/29(26)
- ► 11/15 - 11/22(34)
- ► 11/08 - 11/15(38)
- ► 11/01 - 11/08(38)
- ► 10/25 - 11/01(48)
- ► 10/18 - 10/25(37)
- ► 10/11 - 10/18(40)
- ► 10/04 - 10/11(35)
- ► 09/27 - 10/04(41)
- ► 09/20 - 09/27(39)
- ► 09/13 - 09/20(35)
- ► 09/06 - 09/13(32)
- ► 08/30 - 09/06(32)
- ► 08/23 - 08/30(34)
- ► 08/16 - 08/23(36)
- ► 08/09 - 08/16(39)
- ► 08/02 - 08/09(40)
- ► 07/26 - 08/02(45)
- ► 07/19 - 07/26(45)
- ► 07/12 - 07/19(45)
- ► 07/05 - 07/12(40)
- ► 06/28 - 07/05(31)
- ► 06/21 - 06/28(37)
- ► 06/14 - 06/21(44)
- ► 06/07 - 06/14(42)
- ► 05/31 - 06/07(44)
- ► 05/24 - 05/31(39)
- ► 05/17 - 05/24(33)
- ► 05/10 - 05/17(39)
- ► 05/03 - 05/10(47)
- ► 04/26 - 05/03(45)
- ► 04/19 - 04/26(43)
- ► 04/12 - 04/19(40)
- ► 04/05 - 04/12(40)
- ► 03/29 - 04/05(40)
- ► 03/22 - 03/29(45)
- ► 03/15 - 03/22(45)
- ► 03/08 - 03/15(46)
- ► 03/01 - 03/08(49)
- ► 02/22 - 03/01(49)
- ► 02/15 - 02/22(45)
- ► 02/08 - 02/15(49)
- ► 02/01 - 02/08(49)
- ► 01/25 - 02/01(49)
- ► 01/18 - 01/25(38)
- ► 01/11 - 01/18(53)
- ► 01/04 - 01/11(52)
-
►
2008(2199)
- ► 12/28 - 01/04(27)
- ► 12/21 - 12/28(25)
- ► 12/14 - 12/21(41)
- ► 12/07 - 12/14(39)
- ► 11/30 - 12/07(34)
- ► 11/23 - 11/30(31)
- ► 11/16 - 11/23(33)
- ► 11/09 - 11/16(33)
- ► 11/02 - 11/09(33)
- ► 10/26 - 11/02(43)
- ► 10/19 - 10/26(35)
- ► 10/12 - 10/19(34)
- ► 10/05 - 10/12(38)
- ► 09/28 - 10/05(40)
- ► 09/21 - 09/28(46)
- ► 09/14 - 09/21(52)
- ► 09/07 - 09/14(49)
- ► 08/31 - 09/07(36)
- ► 08/24 - 08/31(43)
- ► 08/17 - 08/24(48)
- ► 08/10 - 08/17(50)
- ► 08/03 - 08/10(46)
- ► 07/27 - 08/03(46)
- ► 07/20 - 07/27(49)
- ► 07/13 - 07/20(48)
- ► 07/06 - 07/13(52)
- ► 06/29 - 07/06(42)
- ► 06/22 - 06/29(47)
- ► 06/15 - 06/22(41)
- ► 06/08 - 06/15(39)
- ► 06/01 - 06/08(36)
- ► 05/25 - 06/01(30)
- ► 05/18 - 05/25(39)
- ► 05/11 - 05/18(40)
- ► 05/04 - 05/11(41)
- ► 04/27 - 05/04(48)
- ► 04/20 - 04/27(44)
- ► 04/13 - 04/20(48)
- ► 04/06 - 04/13(41)
- ► 03/30 - 04/06(54)
- ► 03/23 - 03/30(41)
- ► 03/16 - 03/23(47)
- ► 03/09 - 03/16(32)
- ► 03/02 - 03/09(44)
- ► 02/24 - 03/02(54)
- ► 02/17 - 02/24(40)
- ► 02/10 - 02/17(57)
- ► 02/03 - 02/10(57)
- ► 01/27 - 02/03(49)
- ► 01/20 - 01/27(48)
- ► 01/13 - 01/20(46)
- ► 01/06 - 01/13(43)
-
▼
2007(913)
- ► 12/30 - 01/06(33)
- ► 12/23 - 12/30(29)
- ► 12/16 - 12/23(39)
- ► 12/09 - 12/16(36)
- ► 12/02 - 12/09(33)
- ► 11/25 - 12/02(44)
- ► 11/18 - 11/25(25)
- ► 11/11 - 11/18(44)
- ► 11/04 - 11/11(54)
- ► 10/28 - 11/04(51)
- ► 10/21 - 10/28(57)
- ► 10/14 - 10/21(55)
- ► 10/07 - 10/14(57)
- ► 09/30 - 10/07(55)
- ► 09/23 - 09/30(41)
- ► 09/16 - 09/23(41)
- ► 09/09 - 09/16(37)
- ► 09/02 - 09/09(31)
- ► 08/26 - 09/02(44)
- ► 08/19 - 08/26(43)
- ► 08/12 - 08/19(37)
-
▼
08/05 - 08/12(27)
- Infrastructure group earnings revisions
- Some rebound
- Another rough morning (notice a theme?) :)
- An ugly day for the longs
- Cash levels
- Housing/Credit Woes
- Doubling position in Gmarket (GMKT)
- Nice rebound in F5 Networks (FFIV)
- Closing position in URS (URS)
- New position in Perini (PCR)
- Building refinery exposure: Frontier Oil (FTO) and...
- Another rough morning
- More thoughts on McDermott (MDR)
- Celanese (CE) affecting CF Industries (CF)?
- Adding to CF Industries (CF)
- Strong breadth to rally, coal producers even shoot...
- Housing rally and Toll Brothers (TOL)
- Cut back 2 Chinese Solar stock positions: Yingli G...
- Cut back 3 positions: Mastercard (MA), Ctrip.com (...
- Adding heavily to McDermott (MDR) and Foster Wheel...
- Cisco redux
- Cisco (CSCO) earnings should bode well for Juniper...
- Both McDermott (MDR) and Fluor (FLR) post great ea...
- F5 Networks (FFIV)
- Evercore Partners (EVR)
- Test 2 to descibe my first day
- Test 1 to edit later






