RE:RE:Crack spreadsFully agree with you Clemxb7.As i write this post, the 3-2-1 spread is $45.05US or $58.20 CDN.
I have been traking this since 2007.My data base is huge and i can say with certainty that
SU is making more than 3 times the avg return on their refining units.
I think many short term traders got in prior to aug. 4th in expectation of a boost of the dividend.
Bloomberg had the analysts consensus of the dividend going to 52 cents.
I am sure many got in for a bump in the SP and since the hike did not occur and the stock did not
go up initialy they sold.
This selling is probably over for the most part.
SU will not trade at this ridiculous low valuation.With 1 1/2 month behind us at these juicy spread,
we will once again see a great Q3.
This stock will be in the 50's sooner than later.