3 trusts are buying Calumet Specialty Products (CLMT) on the open market with both hands. Here are the form 4 sec filings.
Hertiage Trust
Maggie Trust
Feshenfeld Trust
Heritage said last week they would be buying an additional 575,000 shares between now and the end of May. Looks like they are following through on that promise. CLMT back over 13 up 1.40.
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5 comments:
CEP just went red...Glory!
The problems that effect CLMT are not going to go away anytime soon. Crude is up another $10/bbl since they announced, margins getting squeezed and no ability to pass higher input costs on.
It's nice to see insider buying, but as long as crude continues its rocket ride higher, CLMT is toxic.
Trade away, but that is all this thing is good for.
This one has been fun to watch for some time now. It's just more fun when it is up 22% in one day than down that much or more. I was bottom fishing buying it these past 3 weeks. We'll just have to see if its "toxicity" returns. With insider families buying, it's hard to know how the rest of the market will behave after the buying is done.
it was odd today because refiners were up today...valero..tesoro etc all had good moves...although they came off the highs of the day. This is the face of rising oil again today.
Watching carefully.
Now it's up 35% in two days (45% a couple of hours before the close today. It's going to take quite a dead cat to drop back to $11.
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