Good Afternoon.
Kinda slow today...had some errands to run this morning so the blogging had to take a backseat so lets catch up.
First off MLPS selling off a touch today but not by alot. Some news on Valero LP with its earnings this morning and a distribution announcement which is static from the last quarter. Still chewing through the Kaneb Pipeline buy...
Holly partners still up 50 cents on followthrough from yesterday's good earnings.
Not much else happening here....losses are mostly under 50 cents. Take a look by the way at some of the closed end MLP funds...some are selling at discounts. First Energy Income trust (FEN) had a closing NAV 0f 23.34 yesterday and trades today at 20.95....2.39 discount is almost 12 percent!
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About Me
- 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:
FED statement included language that long term inflation outlook remains contained.
Ben Stein wrote an interesting article suggesting the FED was making a mistake raising rates. His take is that oil and natural gas are traded on world markets, so prices are set by world conditions (i.e. China demand up, = higher prices), so raising U.S. rates was (a) not influential and (b) not necessary given falling futures prices on both.
He didn't win the argument today, but his argument seems sound.
http://finance.yahoo.com/columnist/article/yourlife/1327
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