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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Keith Feral who wrote (92489)	3/19/2008 2:02:52 PM
From: blazenzim	Read Replies (4) \| Respond to of 110194

Lots of people believe that refineries are a good play at this time of year because of the seasonal expansion of the crack spread. However, gasoline inventories have skyrocketed and this is pressuring crack spreads to the lowest in years. I don't think the refiners have any pricing power right now. While the stocks may get a temporary pop on crude prices coming down, I would be a seller into rally. Neither oil or precious metals stocks confirmed the all time highs in crude and gold. This is a very bearish development for commodities.