Goldman Sachs lowers view on Oil Refiners to Cautious (VLO, SUN, TSO)

We have done CSP's on these. Just wanted to mention that Goldman Sachs lowers their view on Oil Refiners to Cautious, citing an "ugly" outlook for the group. The firm reiterated their Sell rating on Valero (NYSE: VLO) and downgraded Sunoco Inc. (NYSE: SUN) and Tesoro Corporation (NYSE: TSO) to Sell.

The firm started coverage on Western Refining Inc. (NYSE: WNR) with a Neutral rating and reinstated coverage on CVR Energy, Inc. (NYSE: CVI) at Neutral.

The firm upgraded Marathon Oil Corporation (NYSE: MRO) from Sell to Neutral.

The firm continues to prefer Neutral rated Frontier Oil Corp. (NYSE: FTO) and Holly Corp. (NYSE: HOC).

These will get hammered down for the next few days. Then we can take a look at them.

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VLO

Stopped @ $17.061 for a small loss. Maybe next time. Purchased @ $17.20. $$
Less than 1% loss.

VLO

Bought Valero Energy Corp VLO @ $17.20. Have a $.25 trailing stop. Short term target of $17.70.