WNR - Western Refining, Inc. (NYSE Stock) - Page 2 - Stock Market Forum, Penny Stocks, FOREX, NASDAQ, AMEX, NYSE, Live Chat

**BadThad** · #11 08-21-2009, 03:44 PM

$6.10 already.....I'm liking this one already.

Foxtrot · #12 08-22-2009, 10:02 AM

Why is it down so much from June ?

**BadThad** · #13 08-23-2009, 12:32 AM

Quote:

Originally Posted by Foxtrot

Why is it down so much from June ?

Quote:

Western Refining (NYSE:WNR) today announced that it intends to offer 14 million shares of its common stock plus an additional 2.1 million additional shares for the underwriters overallotment option. The company also intends to concurrently offer $100 million in convertible senior notes due in 2014 (plus an additional $15 million for the underwriters overallotment option). The company also announced that it intends to make a private offering of approximately $600 million in senior secured notes due 2017. Western Refining intends to use the proceeds from the debt and equity offering to repay indebtedness under its existing loan credit agreement.

Paying debt with new debt and dilution. It's a great way to destroy your stock price. LOL However, if a company is solid, the shares usually recover....especially when oil prices rise again. Another good sign is big time insider buying like this:

Quote:

Western Refining Inc. (WNR): Chairman & CEO, 10% Owner Paul L Foster Bought 166,667 Shares

Chairman & CEO, 10% Owner of Western Refining Inc. (WNR) Paul L Foster bought 166,667 shares on 06/10/2009 at an average price of $8.25. Western Refining Inc. is an independent crude oil refiner and marketer of refined products headquartered in El Paso Texas and operates primarily in the Southwestern region of the United States including Arizona New Mexico and West Texas. They have invested a significant amount of capital in refinery initiatives that will allow us to improve our crude oil processing flexibility expand refinery capacity increase production of higher-value refined products and satisfy certain regulatory requirements. Western Refining Inc. has a market cap of $565.8 million; its shares were traded at around $8.25 with a P/E ratio of 2.6.

That drop and insider buying are good reasons to pick-up shares. I jumped in right after I saw the thread booted. This stock is such a solid play, I don't know how SMC members could resist (you all know I don't pump), but this one is a HOT one!

If you look at the technicals and fundamentals, NOW is the time to buy. They just reported a very nasty loss on top of the dilution. The stock is at it's low, I seriously doubt it will retrace to $4.50, a stop can cover you there if you're worried. One the upside, it's wide open with various steps in resistance.

I love this website and use it all the time. This is very easy....when I see a stock with no lower resistance left (near bottom of the page) and all upper, it's a great candidate for an upward move....given that the company is solvent. Look at this summary (only good for 23-24 AUG), scroll down to "resistance and support areas":

WNR stock analysis | stock charts | support and resistance

**BadThad** · #14 08-24-2009, 10:13 AM

Added to my position this morning.

Current stock price: $6.38

**Volatile22** · #15 08-24-2009, 12:19 PM

Nice find here. Joining a bit late, but trying to get in now.

Looking like if WNR breaks 6.48 it should run a lot higher before the EOD.

thegreatgate · #16 08-24-2009, 12:45 PM

Bought the $10 December calls for 20 cents a contract.....IF, a big IF, WNR gets to $10 by December my $300 investment would probably be worth about $1,000 or a little more (just guessing). My very first options play....I'll keep the thread updated on the progress...

**BadThad** · #17 08-24-2009, 04:17 PM

Good luck with your calls gate!

Closed at 6.36 (HOD 6.56), this is a great play!

thegreatgate · #18 08-24-2009, 04:24 PM

Quote:

Originally Posted by BadThad

Good luck with your calls gate!

Closed at 6.36 (HOD 6.56), this is a great play!

Thanks, actually the calls closed at 15 cents/contract....They started the day with ask at 20 cents and bid at 15 cents.....My original order was for 15 contracts at 15 cents....Later on in the day a bunch went through at 20 and so I decided to up my order and get the 20 cent contracts (at the ask) while they were available. During the afternoon pullback 10 contracts filled at 15 cents. I wrote down the volume after I bought and it was 128 contracts at 20 cents. The calls closed at 15 cents with total volume of 138 contracts so only 10 contracts squeezed in at 15 cents.

As long as WNR gets a nice bounce those calls should go up...I'd like to see +$7/share THIS WEEK....

**Volatile22** · #19 08-25-2009, 09:23 AM

WNR looking like itll gap up this morning.

**BadThad** · #20 08-25-2009, 01:45 PM

Then down.....I added at 6.22!