CVR REFINING (CVI)

[michaelmerriman]

Sold about a third of my shares today to lock in some gains. It will probably keep climbing until the 19th, but after seeing red for so long I had to get some green out of the game while I had the chance.

I think the steelworkers strikes that have hit the other refiners makes CVRR'S lack of labor disputes look better by comparison. Also, I've noticed gas prices are about 30 cents higher per gallon in my area compared to a month or two ago, despite oil's $/bbl being at the same levels. Whether it's increased demand for gas or what, it looks like gasoline sellers in my area at least put a little padding into their prices. Probably bodes well for refiners, but that means nothing for the Q4 earnings, and I think the expected distribution is really the main driver of this current valuation uptrend.