Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: A day after plunging because of the Seaway pipeline reversal, Western Refining (NYSE: WNR) is down another 10% today after an analyst downgraded the stock. 

So what: Deutsche Bank was the culprit today, downgrading the stock from buy to hold, and the market sent shares lower again. Refiner CVR Energy (NYSE: CVI), which fell 14% yesterday, is also trading lower, so the sector is feeling some pressure and downward momentum.

Now what: Yesterday I advised staying away from refiners for the time being, given likely margin pressure, and that stance hasn’t changed today. A 20%+ move is maybe a little overdone, but the momentum is certainly heading against investors right now. I wouldn’t get in the way of that right now.

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