Friday, March 31, 2006
Anyone who watched the last 15 minutes of trading saw some wild moves. My portfolio jumped over 6% in that time frame (Horray!). Crosstex went from 33.97 to 36 in a matter of seconds as shorts covered rapidly. Markwest Energy also shot up from 44.90 to 46.80 at the close. And there were a few others as the quarter closes including Atlas Pipeline Partners and Holly Partners; the latter jumped 1 in the last 10 minutes. I searched the naked short list on the exchanges to see if any of these stocks were on it but so far it looks like they were not. If this were just end of quarter short covering i would look for these moves to get reversed early next week. The stocks involved also have been laggards lately in the mlp universe.
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