One Little Indian Left
Only one stock left on the watch list. Frontier Oil suffered a downgrade last week that came very close to our trigger of $56 but not close enough. I really like Frontier and had a long time position that was stopped out by the drop. I am looking to get back in at the same $56 level. Aggressive traders might want to hedge that bet on any strength on Monday. Once FTO starts moving higher again I believe it will attract buyers quickly. FTO, Holly (HOC) and Giant are all in the same category. You have to take your entry points quickly or be left watching the next ramp higher.
Current Watch List
FTO - $58.37 - Frontier Oil Corp
Frontier Oil Corporation (Frontier) is an independent energy company engaged in crude oil refining and wholesale marketing of refined petroleum products. The Company operates refineries (the Refineries) located in Cheyenne, Wyoming, and El Dorado, Kansas, with a total annual average crude oil capacity of 162,000 barrels per day (bpd). Both of the Refineries are complex refineries, capable of processing heavier, less expensive types of crude oil, while producing gasoline, diesel fuel and other high-margin refined products. Frontier purchases crude oil to be refined and markets refined petroleum products, including various grades of gasoline, diesel, jet fuel, asphalt and other by-products. The Company focuses its marketing efforts in the Rocky Mountain region, which includes the states of Colorado, Wyoming, Montana and Utah, and in the Plains States region, which includes the states of Kansas, Oklahoma, Nebraska, Iowa, Missouri, North Dakota and South Dakota.
Breakdown trigger $56.00