I was perusing the message boards on yahoo and i am amazed that post after post on APL and XTEX for example asking the question why are these stocks down..there must be something wrong. Excuse me but are you people living underground for the last 2 weeks.....apparently they don't know it but there is a correction and a sharp one going on in everything energy. They are one of the few groups that are up across the board this year and it looks like everyone seems to be running out the door to book profits while they still have any.
So there...no corporate news...just a wholesale correction!!!!
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- joewxman
- a meteorologist with a knack for trading and investing in MLPS! I also like horse racing, enjoy cigars and a good port wine.
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1 comment:
"Correction" implies the valuation was too high. I distinctly remember you being frustrated that TPP had lagged behind the others and should have gone higher when it was $40.
What I think is that October sucks, institutions are selling for their year end and there is a bunch of fraidy cats wimpin' out and selling good stuff here. They fall into the "rampant inflation" scared crowd, which isn't going to happen.
I'll bet you within 45 days we'll see info that inflation is contained, gas / crude has fallen and the market will jump for glee and end up over 11k at the end of the year.
Meantime, more #'s from the MLP's, more dist. hikes and a gradual climb up.
But meantime, October will keep on sucking.
So, if that's what you mean by correction, I'm with you. But if you meant they were overvalued, I disagree.
Good luck!
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