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With all our watch list entries being triggered last week I am running out of viable targets. I view any new entries with a 60-day life and I only want ones with a great chart. That limits the field.

Secondly I want to either buy huge reserves or a refiner with plenty of upside. We already have COP and VLO and I would not buy XOM with your money. The only real plays that might fill the bill are SU, SUN and AHC. Since we already have a full portfolio I am only adding one and that is SUN.

Sunoco is a refiner and enjoyed a monster +$16 bounce last week. After giving back $5 it is trying to find support at $75. Ideally one more drop to $72 would be perfect.

Good luck!

Dropped Entries


New Watch List Entries
Sunoco, Inc.

Current Watch List

SUN - $75.31 Sunoco Inc

** Breakdown Target $72.00 **
** Breakout Target $77.50 **

Sunoco, Inc., headquartered in Philadelphia, PA, is a leading manufacturer and marketer of petroleum and petrochemical products. With 900,000 barrels per day of refining capacity, approximately 4,800 retail sites selling gasoline and convenience items, over 4,300 miles of crude oil and refined product owned and operated pipelines and 38 product terminals, Sunoco is one of the largest independent refiner-marketers in the United States. Sunoco is a significant manufacturer of petrochemicals with annual sales of approximately five billion pounds, largely chemical intermediates used in the fibers, resins and specialties markets. Utilizing a unique, patented technology, Sunoco also currently has the capacity to manufacture over 2.5 million tons annually of high-quality metallurgical-grade coke for use in the steel industry.

Sunoco, Inc. operates through its subsidiaries as a petroleum refiner and marketer, and chemicals manufacturer with interests in logistics and coke making. Sunoco's petroleum refining and marketing operations include the manufacturing and marketing of a range of petroleum products, including fuels, lubricants and some petrochemicals. Sunoco's chemical operations consist of the manufacturing, distribution and marketing of commodity and intermediate petrochemicals. The Company's operations are organized into five business segments: refining and supply, retail marketing, chemicals, logistics and coke.

Breakdown Target
BUY Feb 2006 $80 CALL SUN-BP
(Leaps are all $15 in the money)

Breakout Target
BUY Feb 2006 $80 CALL SUN-BP (same as breakdown)
(Leaps are all $15 in the money)

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