RE:RE:TPH: KEEPS BUY Rating But LOWERS PT To $ 29 From $ 33 !!!Its interesting how we talk about the things that "people" miss when looking at share prices but more and more I am coming to the realization that the Algos do all the trading and what info is programmed into the machine that triggers a "sell" response?
I don't know what "inputs" the computer has but I suspect that "estimated crack spreads" are not one of them. I think that the algos simply respond to trading patterns on the larger or macro scale which explains why sharp moves have become accentuated in recent years.
I'm sure that in the program, interest rates are given a higher weighting factor because the "macro trend" for stocks with rate hikes now points downaward so the computer starts selling and other programs respond by falling that direction. Coputers are the ultimate band wagon jumpers.
Even in declining markets there are sweet spots in the economy and these are probably overlooked. I don't know how long the bigger crack spreads will persist but again I don't think much weight is given to that sort of analyses.