Saturday, January 31, 2009

Weekend update

I will pass to u some news worthy headlines.  30,000 refinery workers are going to strike at midnite tonight. In my many hrs of search daily this one got by me. UGA has poped 20% since my sell to you about investing in gas. I post trades not investments. The refinerys started declining oil deliverys and this is why gas has risen to 1.27 from .84 cents (wholesale) There are replacement workers suposable? I  dont know anyone who would cross a picket line let alone ironworkers. This is happening while November shows us the largest decline in driving miles ever 5.4% this contract has been looking poor for months. Better to have luck then brains trading this is why gas has been so atractive in a decling market. This helps the refiners to get gas up in a quick way. It will also help the union get more then 2.5% per yr for the next 3 yrs.  Oil has actually declined this week because its a USA problem only. Put a tight trailing stop in to cover yourself. I do think it goes up from hear as well as oil at 40.00 a barrel. The refiners have billions of gallons of gas in reserves being procesed constantly. When the price of gas goes up there stock on hand apreciates also. Tons of money growing as it moves. They made fortunes on the way up, maintained a very small profit margin on the way down. Exxon reported thursday a anual profit of 45 billion. Nice and to think they get tax incentives. Anyway I expect the new administration to some how step in to settle this if it gets out of hand. A tough task when u ran on a pro union platform. We are setting up for an intresting week! Lets see the details of the expected stimulus bill. The whole market is dependent on some informative good news. It cant stand uncertantee and always sells off. G/L all