RE:RE:How long should I waitI see exactly the same thing as you Migraine.
SU is at an inflection point.I am max out so cannot buy more but just had the discusion with
my wife.She is sitting on a mountain of cash and told her she should buy a few thousand shares.
Her response was this stock could go lower.While see could be right because any thing can happen, i disagree with her.
For me, this cannot be a better buying signal.
While i love her, she is a very bad investor.
She buys when a stock as run up and get scared when it's has gone down a lot and is now
a great bargain.She is the typical "not properly wired investor" that i was writting about yesterday.
For me the downside risk is at most SU at $35.
At $35 the div. would be 5.94%
The upside risk is to see SU trading to at least $46 in the next 2 to 3 months
So i get a very favorable risk ratio of a little bit more than 2.
I don't know were the crack spreads will be in a year or so but for now they are again spectacular.
I have been writting periodically on the spreads. So many probably know that since 2007
the avg. spread is in the mid to high teens.
Just a few example of the once again rise of the spreads in CDN $
May 1st = $37.67
June 23 rd = $42.56
As of this writting $52.33
Staying long