There is safety to a degree in the fact that the quarter ended on Sept 30. No event now will change the numbers for 3Q. That said the latest surge to $50 crude occurred after the end of the quarter didn't it?
Disconnected beaten down mid stream energy stocks have not spiked like they did last time we saw 50...
Logic says margins improve when the cost of crude is higher than crude in storage waiting, however long it may be, to be refined. The opposite was happening when it was on the way down and they had to write down the value of inventory.
Currently analysts expect an average of .11 this time (Q 3) but the next two go negative...
Are they any better than weathermen at prediction?
50 day MA is $9.63, 200 is $9.94... stay nimble my friends!
GLTA!
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