CNBC's Stop Trading Jan. 3rd
When the integrated oil companies are doing well, it's hard to make a case for buying refining stocks like Valero (VLO), Jim Cramer said Thursday on CNBC's "Stop Trading!" segment.
Still, he said, "I don't want to sell the refiners too much lower than here."
Speaking of ConocoPhillips (COP), which provided fourth-quarter estimates earlier, Cramer noted that the one bad part of its projection was its expectation that refining margins will decline from the third quarter.
Autos are currently the "worst neighborhood in the world," Cramer said. The Federal Reserve used to care about preserving the carmakers and the housing industry, but no more, Cramer said. Now, he added, the central bank seems to care only about the jobs report.
Published By TheStreet.com
Still, he said, "I don't want to sell the refiners too much lower than here."
Speaking of ConocoPhillips (COP), which provided fourth-quarter estimates earlier, Cramer noted that the one bad part of its projection was its expectation that refining margins will decline from the third quarter.
Autos are currently the "worst neighborhood in the world," Cramer said. The Federal Reserve used to care about preserving the carmakers and the housing industry, but no more, Cramer said. Now, he added, the central bank seems to care only about the jobs report.
Published By TheStreet.com
Labels: CNBC's Stop Trading, COP, Jim Cramer, Stop Trading, VLO
posted by Stock Administrator @ 11:23 PM
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