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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: Michael P. Michaud who wrote (30244)2/25/2004 6:31:54 AM
From: Ed Ajootian  Read Replies (1) of 206094
 
MikeM, GI -- The word on the 'Street is that Ed is still moderately bullish on Giant Industries, even after this big move.

The stock is still selling for less than 5 x trailing 12 mos. EBITDA, whereas its big brothers are trading at higher multiples. Refining margins for gasoline are looking very good for '04, especially with the new low-sulphur regs about to kick in on 4/1 (which is expected to reduce gasoline imports since the European & VZ refineries have not all gotten up to speed yet).

Although I have taken some profits on this it still represents one of my largest positions.
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