Jim Cramer said that refiners are going to go down because of the spread between brent crude and some kind of other type of oil, but he didn't specify how much further down. I think the refiners will probably go down further as well, but VLO held support in early feb, HFC did not test support, and PSX has not broken below the 20 day after testing support twice. I have a buy limit order for VLO at the support it held in early feb, but i'd like to know if there's some oil-related reason VLO could go down further than that level of support. Or should I buy PSX and use the 20 day as my stop? Or should I just stay away from refiners for now? Also, I'd like to know what makes refiners go up or down. Why did the refiners rally so hard from mid-October to the end of 2013?
