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| The Crack Margin is running slightly above $10, an improvement from last fall; the gasoline board reflects carrying charges which illustrate the oversupply situation & we are about to enter the period when we will be refining for gasoline versus heating oil so I guess we will determine that effect in a few weeks.
Point still remains. If a short is stuck for real beans in the short term. He needs beans and might gather some emotional solace from knowing they will be cheaper down the road, with crushing margins in good shape, he needs beans. Bankruptcies are not new news.
In view of the sharp break in energies, it appears a disconnect might be forming as lower crude does assist the consumer budget.
I don’t debate markets. I try to raise questions. I don’t have the answers, I just follow the line on the chart and watch my equity.
Edited by SeniorCitizen 2/1/2008 14:03
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F W I Worth
