I am moderately bullish on the refiners, specially the major ones, like Valero Energy (VLO) and Tesoro (TSO). But Western Refining (WNR) is a pure speculative stock and a major short covering rally may be just around the corner. When we trade this kind of stocks with decent size we are always one trade way from making a killing and one trade way from making lasting damage to our trading account. I will try to play this short covering rally if it develops. Maybe in Livermore`s way, if my timing is right and I can be agressive and sit tight...
For those that are going through a rough patch, maybe you can get some inspiring thoughts from Winston Churchill,"Success consists of going from failure to failure without loss of enthusiasm."
Have a great trading day.
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