Love It When a Plan Comes Together

Not sure how many of my readers remember John Hannibel Smith of the A team. But he would always be the mastermind behind some complex scheme for the A team to undertake.  After it would be successful, though always with some dramatic twists, he would say, "I love it when a plan comes together".

One of my better "plans" was my movement in mid-February inton the refiner space. At that time I bought MPC, HFC and CVI. I sold CVI relatively quickly (a mistake), but held (and actually added to MPC and HFC) despite some early dips. Of course, in hindsight, I should have bought WNR and PSX, which are both up more... But it is hard to find fault with 30.3% (MPC) and 24.6% (HFC).

I do not see any catalysts in the near future to sell, as my thesis is unchanged... The USA is churning out more oil and gas domestically, but is not expanding refinery capacity. I am, though, fully aware that these stocks can drop pretty quickly in the event of an economic downturn, as margins can shrink quickly when there is excess capacity... As Mr T would say, "I am no crazy fool!"