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Tax Reform in This Election Year: It's Not Likely
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I'm Reiterating my Buy rating for Tesoro (NYSE: TSO), first recommended on April 23, 2009 at a price of $14.30. Continue reading Time and patience should pay-off with Tesoro
"The 'low-hanging fruit' on our buy list includes refiners," says resource expert Curtis Hesler in The Professional Timing Service. Here, he looks at Valero Energy (NYSE: VLO).
"Refiners enjoy a virtual monopoly. The high price of crude has put the squeeze on profit margins -- especially in the case of gasoline, even though it is selling for over $4.00 now. Gasoline always becomes a political issue during election season.
"Nevertheless, gasoline prices are generally rising. The stock market is also getting 'depression minded,' to the point of paranoia; and this fear is dragging some stocks like refiners lower with the tide.
"The current profit squeeze will not be permanent, but Valero has another arrow in its quiver. They are able to process sour crude, which is becoming more prevalent as exporters keep more of the good stuff (light sweet crude) at home and ship the heavy sour crude.
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