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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: patron_anejo_por_favor who wrote (42007)9/21/2005 4:54:33 PM
From: Wyätt Gwyön  Read Replies (3) of 110194
 
i don't really understand why refiners with assets in harm's way should be rallying...even though i own a lot of VLO and consider it undervalued on long-term prospects. i agree there could be a selloff if Rita doesn't "beat the number".

i don't know about XOM as they are the most diversified. not a pure play. looks like TSO is the refiner which is benefitting most from the Rita trade, and that is where i would get DeVito for a fade. up 5.5% today vs. 3.6% for VLO. there are probably some refinery builders going nuts as well. i'm sure the daytraders are all over it like flies on George Bush.
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