Still Liking Valero (VLO)

I’ve been mentioning Valero (VLO) lately as a nice trade.  It’s up about 5% this morning and I think it has more to go.  We may start to get some serious traction if it goes above its 50-day moving average which has basically been the place this year all rallies have stalled. 

My target would be somewhere between $40-$45 per share.  That would be the logical place for the rally to stop.  Also, we need some volume to come in similar to the May rally.

If hurricane Gustav really picks up steam and oil jumps $10 per barrel, that could delay Valero’s run.  But, for now, I’m holding mine.

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