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Dicker: Refiners Continue Their Bull Run

Tickers in this article: HFC MPC PSX TSO
NEW YORK (TheStreet) -- I was talking to Jim Cramer today about the refiner stocks, and why they are continuing to show strength and are likely to remain worthy of recommendation in the coming months.

We had to go a bit deep into the weeds to discuss this, and I spoke not only about the weakening WTI-Brent spread which impacts upon the mid-continent refiners directly, but also about the gasoline prices on the Gulf Coast, which trade somewhat independently of the Nymex gasoline futures contract, which relates to New York Harbor.

I tried to show Jim that one negative indicator -- the weakening WTI-Brent spread -- was being somewhat counteracted upon by the Gulf Coast gas price, which has seen amazing strength and is pushing out crack prices above $42, not seen since 2006. I also believe that the weakening WTI-Brent spread is a temporary thing, and as that finds strength again will increase the margins for the refiners even more.

In short, despite the run that most refiners have had in recent months, the most recent mini-swoon in the refiners represents an opportunity and need to be bought, particularly the ones that are not "one-trick ponies" in the mid-continent. Stocks like Marathon and Phillips 66 .

I talk more about the refiners with Jim in the video above.

At the time of publication the author had no position in any of the stocks mentioned.

This article was written by an independent contributor, separate from TheStreet's regular news coverage.