The fed meeting is underway so get set for tremendous tension to build on the tape until the release at 2:15pm. So while the main tape gets pulled back and forth, energy is moving higher and taking some MLPS with it. The AMZ MLP index is down however by a small fraction. Atlas Pipeline and Oneok LP lead the losers list down fractions. Also down are Valero LP, Pacific Energy Partners and a few others.
Meanwhile Markwest Energy is up another fraction today along with Crosstex LP, Energy Transfer Partners and Boardwalk Partners.
Magellan Holdings is down under 20 bucks again and note the chart above is not exactly pretty. However put this one on the radar screen for a possible move on Friday when the end of quarter nonsense possibly sends this one skyward for a nice 1 day trade...imho of course!
joseph cioffi's Source Page - Associated Content
2 comments:
MGG is indeed interesting. If you notice the last two days -- it quietly broke through $20 mid-day, then saw a lot of buying pressure in the last hour or so that took it back above $20. When it first cracked the $20 barrier about a month ago it appears that a number of stop-loss orders were executed. Not so this time around.
Note that on June 19 Citibank listed MGG as their top-rated GP play for the next 12 months.
i think this one is another end of quarter spike candidate.
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