Too bad it only happens 4 times a year but when they go X-DISTRIBUTION you can get a lot of distortions and with a little luck make some quick money. For example Crosstex went x-dis today and opened down at 34.72..off 1.41 and then almost immediately bounced up 1 dollar from there. The over the counter MLPS tend to be a little more volitile and sometimes on x-dis day there are sellers at the open that sell into a vacuum...Nimble traders only and not for the faint of heart.
Nothing unusual this morning though Holly Partners is a big winner +1.15 this morning. I've noticed with these stocks that sometimes it takes a day or two for the earnings message tocome across. Look at Energy Transfer which had great earnings...pre-announced raising estimates and distributions and it took awhile for the news to catch on!.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment