VLO has certainly take a turn for the worse of late, currently trading at exactly 0% higher than it was last Dec 14th.
Yet fellow Group members XOM, CVX and COP are up around 30% over that time with the vast majority of that gain coming since October 1st.
Looking at our partial group chart, we can see what a fantastic leading indicator Valero was on the way to the bottom in February:
- It turned nicely and gave us a great heads up to go long on 2/16
- It then gave us a perfect top signal on 4/25
- Another good bottom as it led the way on 6/21
- A clear double top as it gapped down on 8/10
- Followed MUCH later by the rest of the goup who all bottomed in late October.
While Valero clearly made a weak Fibonnaci 33% retracement of the 45% rule (it was up 25% on 8/2, down 15% on 9/25, the majors have gone hog wild during the stock rally.
Why?
