STOP TRADING NOW

Jimmy loves SHLD(137.48) and CNXT(3.78) for the CNBC Maserati contest- I will pass on those for now but they are in the system for Cramer tracking.

Speaking of Cramer tracking, one of my best performing individual stocks lately is VLO. I have been in and out of the stock many times but have been in for a while now. I did a "mon back" back in the middle of February when Jimmy said this about VLO:

"Ah, I see, here we go: the hobgoblin of consistency. Perhaps I changed my tune because four weeks ago, Valero was making a ton of money refining gasoline, and in the last four weeks, refining margins have completely and totally collapsed.

I mean like completely and totally. Like just disappeared.

And you wondered why for many years refiners had the lowest multiples of any business except steel. Margins can collapse in a heartbeat. I am sure Valero is losing money on every gallon of oil it sells in California.

In these situations, earnings that might have been $10 go to $4. A stock that sold at 5 times earnings now sells at 12 times earnings. All that garbage about the refinery shortage and "no new refinery in 27 years" doesn't buy you a warm bucket of spit.
Of course, refiners are different from integrateds, which are different from drillers, which are different from drilling equipment companies. But the group still will trade monolithically off news in those, so accept the fact that the rough sledding will continue, particularly the more revenue they get from refining as a percentage of the whole.

Oh, and emailers: It's a tough game. Get used to it. I am not a joker, it's just that some businesses are funny in their own ways, especially refining. "

That was a bullseye on the low and look at that chart now. Thank you Voldemort. Sorry can't help it.