Holly Corp. (HOC)

All Comments on HOC

  • commenter
    iansane77
    Oct 07 05:35 PM
    Oil Prices Down? Refiner Stocks to Benefit [view article]
    VLO hit $20.00,TSO at $10.00 and sinking... Reply
  • commenter
    ohm
    Sep 11 09:43 AM
    Oil Prices Down? Refiner Stocks to Benefit [view article]
    Right on Roger! Do the pundits believe it won't get cold this winter or people will quit driving? Should we ban the sale of petroleum based products and coal starting today? Are alternative fuels ready to take over? Or will it take awhile..say ten years? In the meantime how will the proterters get to their marches. Maybe they will march from Frisco?

    If someone falls off an aircraft carrier in the North Atlantic you don't try and turn the ship around to rescue them...it takes too long. Same for the energy crisis...it will take awhile so don't throw away your oil credit card just yet.     Reply
  • commenter
    Roger McCoy
    Sep 10 01:59 PM
    Oil Prices Down? Refiner Stocks to Benefit [view article]
    Americans historically have short term memory loss. Just as they have forgotten why our soldiers are fighting the agents of an evil cause abroad (9/11). I beleive most of my fellow citizen's will quickly forget about what occurred this year. Now that oil has come back from the stratosphere most people will adjust to the new cost. In a year or so the mortgage crisis will have subsided and people will be working again. Once they are warm and fuzzy in there homes , the same or new group of financial preditors will sell a new story causing the market to crash again. How many times has this happened since the 80's? Reply
  • commenter
    jcordes
    Sep 10 08:33 AM
    Oil Prices Down? Refiner Stocks to Benefit [view article]
    Read again: Crack 3-2-1 has gone from $10.64 to $18.36 in 2 weeks.
    Reply
  • commenter
    John
    Angstrom
    Sep 10 08:11 AM
    Oil Prices Down? Refiner Stocks to Benefit [view article]
    To Paul:
    Hey Rolex man, bug off with your stupid comments. This site is for grown ups.

    Stephen, I am with you. At sub 10x PEs, refiners are good buys.     Reply
  • commenter
    PAUL&&SHARK
    Sep 10 07:44 AM
    My Website
    Oil Prices Down? Refiner Stocks to Benefit [view article]
    From your holdings I see you are a loser,big time.
    But maybe you are right long term,how long?     Reply
  • commenter
    thomas728
    Sep 10 07:06 AM
    Replacement Candidates for David Merkel's Portfolio: From AA to ZZ [view article]
    Hey guy........where is WaMu ? Every portfolio needs a solid
    financial.

    Mr. Nygren     Reply
  • commenter
    Chandler
    Lutz
    Sep 10 02:54 AM
    My Website
    Oil Prices Down? Refiner Stocks to Benefit [view article]
    Interesting article. I think the big question is will demand destruction continue in the gasoline market and will the price of gasoline fall more less than oil. I think one nightmare scenario for these refineries could be if demand destruction continues in the US and international demand in for oil picks up...While the former is quite likely the latter is less clear. This may be one reason why some of these companies carry such attractive valuations. Reply
  • commenter
    Daniel
    Jacome
    Sep 04 04:36 PM
    My Website
    Replacement Candidates for David Merkel's Portfolio: From AA to ZZ [view article]
    can we dump this into a spreadsheet next time and rank them a bit. this is just another snow job: ) Reply
  • commenter
    Managing
    Editor
    Aug 30 08:14 PM
    My Website
    Tracking Crack Spreads [view article]
    Emthree -

    Let me try to clear up the terminology more succinctly. The "crack" in oil traders' parlance refers to the refining (or "cracking") products -- heating oil and gasoline.

    When one "buys the crack," he/she is buying the refining output products and selling the crude oil input. Conversely, "selling the crack" means a trader is buying crude oil and selling the prioducts.

    The "spread" refers the (usual) premium commanded by the products over the cost of crude oil.

    Diagrammed,a crack spread looks like this:

    Buy (Long) Sell (Short) Buy (Long)

    CL - (HO +RB) = Spread

    While the guys and gals on the trading floor may be "selling the crack," they are at the same time "buying the spread." They want the spread--the products' premium--to migrate in a positive direction (to increase) over the life of the trade.

    Capice?
    Reply
  • commenter
    Managing
    Editor
    Aug 30 12:17 PM
    My Website
    Tracking Crack Spreads [view article]
    Anachronist -

    Natural gas isn't a product of oil refining, so its value doesn't figure into refining margins. Propane can be an output of either natural gas or petroleum distillate production. On the refining side, it's a relatively small factor.

    The other products you mentioned don't have futures, so can't be readily proxied. Without real-time price discovery, the spreads utilizing them wouldn't reflect current reality.

    As you pointed out, the two distillates--heating oil and gasoline--make up most of the refining output. They're the most marketable products, so their prices influence a refiner's bottom line most significantly.     Reply
  • commenter
    Managing
    Editor
    Aug 30 12:07 PM
    My Website
    Tracking Crack Spreads [view article]
    Bobbo -

    The crack spread shown uses product contracts one month forward of the crude futures employed, as stated: "To better simulate real-world conditions, use the distillate prices a month out from the crude delivery to allow for a storage, refining and marketing cycle."

    Refinery capacity has NOT been all that that high. Refiners are using only 85%-87% of operable capacity in this high-priced oil environment.

    Emthree -

    Buying the crack or selling the crack depends upon your context. If you're talking about the spread "cheapening,"... for example, our lexicon demands that you "sell" now to make a profit. When diagramming the trade, however, the sequence would be:

    Long CL--Short HO&RB--Long Spread.



    Reply
  • commenter
    Emthree
    Aug 30 03:56 AM
    Tracking Crack Spreads [view article]
    Please check the Nymex descriptions of buying and selling the crak spreads which are exactly the opposite of your descriptions in this article.

    "sell the crack;”- buy crude futures and sell gasoline and heating oil futures.

    www.nymex.com/media/cr...     Reply
  • commenter
    Emthree
    Aug 30 02:00 AM
    Tracking Crack Spreads [view article]
    Brad,

    Your description of buying and selling the crack spread seems to be wrong in this article ;

    "*sell the spread*; in expectation of the seasonal narrowing in refining margins ....entails selling short three futures contracts while simultaneously holding two gasoline contracts and one heating oil contract long"

    "*buy the spread* ... holding three crude oil futures long against the sale of two gasoline contracts and one heating oil futures"

    Isn't each transaction exactly the *opposite* of your description ?
    Larry Livingstone has raised this query in his July/21 post but you have not addressed this query. I look forward to your clarifcation.

     Reply
  • commenter
    pockyclips
    2020
    Aug 12 02:07 PM
    Replacement Candidates for David Merkel's Portfolio: From AA to ZZ [view article]
    This looks like a dartboard. Pick 3 sector ETFs, 3 little followed stocks
    and sleep better at night.     Reply
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