[sammyg2]

As always I'm keeping a very close eye on oil company stocks, particularly the independent oil stocks. Like VLO, TSO, SUN, FTO, etc.
Their stock prices are through the roof recently, but margins are in the toilet and profits are non-existant. The price of oil keeps climbing, the price of finished fuels is tanking, refiners are losing up to 5 cents per gallon right now and it doesn't look like things will get betting until spring at best.

So why in the heck are the stocks going up?
All I can think of is that either people are investing dumb (thinking that when oil prices goes up it helps the independent refiners, which it doesn't) or they are simply jumping on the band wagon.

I'm out of this sector completely except for a pile of stock options and grants that haven't matured yet.