Wednesday, May 21, 2008

A Toe in the Water on Frontier Oil


I have been watching Frontier Oil, ticker FTO (above). Remember this heavy oil refiner that chased me out of a long a few weeks ago. We have what looks to be a very encouraging looking rounding bottom. People need to remember that other refiners may have attributes that tump Frontiers but he fact remains that high qualtiy light sweet crude is in short supply while high sulphur, heavy crude is in greater supply.

I am getting long 1 unit here at 27.80 and will be adding to the position on a move above $28.50


Good speculating to you all !
Open Positions:
Long 6 units Currencyshares Japanese Yen ticker FXY @ $88.55 stop at $91.40
Long 1 unit Allis-Chalmers ticker ALY @ $14.45 stop at $16.64
Long 3 units Ultrashort Dow ticker DXD@ $50.12 stop 2/1 at DIA $132.68/130.26
Long 2 units Ultrashort Financials ticker SKF @ $103.90 stop at XLF $26.72
Long 1 unit Currencyshares Swiss Franc ticker FXF @ $96.25 stop at $93.82
Long 1 unit Frontier Oil ticker FTO @ $27.90 stop at $25.26
Short 1 units Daimler AG ticker DAI @ $86.20 stop at $82.48
Short 1 unit Brinker Int'al ticker EAT @ $21.25 stop at $24.14
Short 3 units Retail Holders ticker RTH @ $96.72 stop at $98.56
Short 2 units Goldman Sachs ticker GS @ $191.53 stops at $197.68/$193.58
Short 2 units Darden ticker DRI @ $36.35 stops at $40.27/$38.34
Short 3 units Lehman ticker LEH @ $43.70 stops 2/1 at $47.46/$45.48
Short 2 units Deutsche Bank ticker DB @ $117.03 stop at $120.18

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