If my predictions come true with lower oil prices, this should be taken right back down to the bottom of the trend. And that momentume indicator on the bottom looks like it wants to head down down down.
WNR
A pullback to the 20 DMA (blue line), 10.5ish, would be a very nice setup for continuation move up. Crack spreads should hold steady as crude bounces around in a range.
Old news, but: WNR 9/16/2008 02:55pm Hearing renewed takeover chatter circulating
TSO
This stock has not performed. But it is setting a very nice base if it chooses to move higher from here. Old news but, 9/17/2008 08:12pm Hearing Valero may be shopping to take out peer refiner Tesoro
I don't understand why TSO is acting similar to VLO, when it seems like VLO has many more issues: notes it has limited price changes at gas stations and is currently losing money on fuel sales. That does not sound good at all! And this: Reports malfunction during restart of Houston refinery (83K bpd).
I believe I suggested this before, going short VLO and long TSO or WNR sounds very good to me, but they don't seem to be trading on my analysis.
