CVRR is now in a holding pattern for the most part. Up a bit now, down a bunch twenty minutes ago, probably heading higher in the moments ahead. But there's nothing to pin our hopes on , at least not until there's substantive news promising to gild the path ahead.
A couple of items to consider:
I think folks are lining up now, if only to secure solid footing position-wise for later when things show signs of beginning to gel as expected---later. This is what I did with ALDW, myself, back in the day when units were far cheaper than today. But I can't bring myself to tie up money in CVRR until there's substance and I'm not seeing it yet. In effect, while I support taking a position in CVRR, I don't believe it's a smart move until such time as there's some solid evidence in support of there being underlying value---not as an Icahn pawn, mind you, but as a corporate performer promising us good things.
As we speak, CVRR and ALDW are but twenty or so cents apart. This is noteworthy inasmuch as they were considerably further apart prior to this week. Perhaps ten minutes ago (9amC), CVRR dropped to negative 40 cents. That surprised me as it seemed a bit overdone. But today may be a flexion point for this stock, meaning market manipulators are finally preparing to give up the ghost and admit the hoopla has been phony from the start. When that happens, you can usually expect to see the stock drop with dramatic rapidity.
The big question for me?---When will Trump declare such-and-such changes in RINs such that we can look forward toward more robust distributions?
I think we're all waiting to see how quickly and deftly our incoming President will move. It will create a can-do atmosphere we sorely want to see and enjoy, present company included.
