by Trader Mark, Fund My Mutual Fund
It is interesting how the overall market is not going parabolic (instead she is slow and steady as she goes) but different sectors within the market are going parabolic. I have not seen a move like this in the refiners since perhaps late 07 or early 08. There is something called a crack spread which is essentially the different between inputs (crude oil) and outputs (refined petroleum) and based on how these stocks are moving, I assume it must be blowing out. The red line below is the 20 day moving average - these are acting like Netflix or JDS Uniphase.... 30% over the 20 day for a refiner? Holy Bernank.
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