profits up, page-20

Dont get me wrong, my senitment is only short term.
Forget the presentation, if you look at the global supermajors thier refinining margin was down 80 plus % and infact the Caltex's outlook for 08/09 was its going to be tough.

Trust me, I only like a few stocks on the ASX and I was there when the shorts crushed the stock to $11, but oil has risen over 25% since then and the $AUD spiked, so in the short term I have traded out and the reality is that rising oil hurts refiners.

That being said, in the near term, when the speculators get out of oil casue it corrects, Caltex will fall and I will get back in when everyone else is dumping it.

Just looks like we have opposing trading views, time will tell, lets hope we are both right