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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Spekulatius who wrote (24852)	9/19/2006 2:47:45 AM
From: pcyhuang	Read Replies (1) \| Respond to of 78750

OIS -- You may find it to be of interest. Message 22821621 pcyhuang

To: Spekulatius who wrote (24852)	9/19/2006 8:27:25 AM
From: Keith J	Respond to of 78750

Spek, I don't believe the 3-2-1 crack spread is currently anywhere near $18 for VLO or other refiners. More like $5/bbl. KJ

To: Spekulatius who wrote (24852)	9/19/2006 9:18:20 AM
From: Grommit	Read Replies (4) \| Respond to of 78750

Energy -- I also made significant buys on the energy pullback. I joined you all on PTEN at $23. (I own RDC and GSF) Also bought more BTU, SU, VLO, HTE, PWE. crack spread link: futuresource.com2HU%29%20%2B%2842HO%29%20-%20%283CL%29%29/3&o=&a=W&z=610x300&d=medium&b=bar&st= you are way off base on the crack spread, which is ugly for the refiners. but VLO has a very nice presentation on their website. they claim the economic picture thru the decade is bullish for refiners. valero.com

To: Spekulatius who wrote (24852)	9/21/2006 12:48:47 AM
From: Spekulatius	Read Replies (2) \| Respond to of 78750

Sold my VLO - since my initial assumption that the crack spread for VLO is healthy is not correct, i decided to sell at a loss. Per Grommit's link, crack spread is now below 4$, which is not better than break even for VLO. Last time the crack spread was that low for an extended period in 2004 the stock was around 10$. Everyone else is buying so I assume i sold at the bottom probably.