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VLO Looks To Be Long Right Here…But Don’t Marry It (see update)

April 10, 2008 9:19 PM

As I have mentioned many times, I wanted no part of VLO whether it went to $40 or $100…and basically said best of luck with that. However, today’s low is very important. The trade looks to be long right here above $47.94. The only issue is it has to clear $53.20 to be long in that range. So, like the market, anything long here appears to be a scalp. But if you have been looking to be long VLO, today’s action should provide an entry point, and exit point…AND I am wrong point.

04/11 Update: I said to not go long on anything today before the market opened…….so this possibilility of being long VLO I mentioned last night was voided out….

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Comments

2 Responses to “VLO Looks To Be Long Right Here…But Don’t Marry It (see update)”

  1. Scott on April 13th, 2008 12:37 pm

    Refineries have a little bit more downside before they pick back up for driving season. Once we get past the ugly earnings period there should be some upside to the refinery stocks like VLO and TSO.

  2. Scott on April 14th, 2008 1:21 am

    I think it has to get down to 46 before it starts going up.

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