Tesoro Corp (TSO)
An independent petroleum refiners and marketers in the US with two operating segments: refining crude oil and selling refined products in bulk and wholesale markets and selling motor fuels and convenience products in the retail market.
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Read my blog: http://caps.fool.com/Blogs/ViewPost.aspx?bpid=95872&t=01009289685146064849
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4th highest PE in allowed screen 10/8/08
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They just released incredible losses.....Therefore, the confidence that shareholders have is completely cut and they will throw this away.......
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need better crack spreads
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margin spread for refiners should come down. Stock has been on a big run
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The refining industry usually maintains their average margins and when gasoline goes up, the margin stays the same but the company makes more money, as gasoline prices drop, the margins remain stable but earnings will decrease, discounting over th next 12 to 18 months there is no reason to have a long position in TSO, the picture will not improve, so prepare for a fall.
Recs
TSO is demonstrating the effect of average management, good earnings, and a contrary stock market, and will continue to do so

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