Look at these refiners. They are rising under the radar. (July 17, 2015)
MPC AMZN PSX WNR VLO
Marathon Petroleum ( NYSE:MPC ); I’ve talked about these refiners in the past, not too long ago, because of the way these things were working. You can look at Phillips 66 ( NYSE:PSX ), it continues to work pretty well; it’s actually still a pretty good entry. Marathon Petroleum ( NYSE:MPC ), if you zoom out and look at the weekly chart you can see this stock has been in a long, long, long consolidation.
I hate to buy a stock after its gapped so much but I think you can get away with it here on Marathon ( NYSE:MPC ) because it is moving higher; really out of a nice squeeze. Western Refining ( NYSE:WNR ), same deal. Not quite as snappy as Marathon Petroleum ( NYSE:MPC ), but this is working; as well as, of course Valero ( NYSE:VLO ). So all of these refiners are working.
The real story is told here on the weekly chart; you look at Valero ( NYSE:VLO ), does this look like a top? No, it just looks like the beginning of a move in the same types of moves that we’ve seen. Marathon Petroleum ( NYSE:MPC ), same thing. Western Refining ( NYSE:WNR ), looks like it’s almost there. Phillips 66 ( NYSE:PSX ), it’s kind of almost there too. So I want you to look at checking out any of these four stocks, and look to put them in your portfolio because I think they’re going to work.
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