CVR REFINING (CVI)

[jugs]

As you know I'm not in agreement with you on these recent purchases. Not to say I'm doing better, mind you---but having been burned too many times of late, I'm gun-shy. I nearly bought CVRR a week ago. On the 8th of this month it closed at $17.48. Today's close at $13.83 represents my would-have-been loss of 21%. Roughly one dollar of every five I'd have put into CVRR would be in someone else's pocket this very moment!

I'm a regular contributor to charity but not that way. col* (not lol)

*col= crying out loud

When it's so cloudy I can't tell where I'm going, I figure it's time to NOT venture out. When the market is so cold it hurts to contemplate frostbite let alone mounting losses, I'd just as soon put a match to my investable cash---at least that will provide a moment's relief.

You buy when it hurts? Why? I don't relish the thought of paying 21% more than necessary.

All shares become trading shares when the market bottom falls out. So long as we see profitability, we hold those shares. We will know when this energy situation begins to uncoil. That will be the time to take advantage of buying opportunities.

I hope you'll reconsider a bit and perhaps hold back before committing fresh dollars to what has been a falling knife of late. At the same time, I'd like to hear what it is that has you comfortable adding capital despite the obvious risks.