Crosstex (XTXI) drops to 82 this morning at the open...i decide to get cute and buy 300 shares before the open on the stock split news...just a small position...and got my head handed to me. Stock is around 85 right now. I will be adding to shares as this sell-off continues. Sometimes i never learn!
Meanwhile its down after 1 hour and 20 minutes of trading...AMZ MLP index down 1.20 and there are sizeable fractional losses. Oneok got a boost from Howard Wiel to buy but the stock is down anyway. Hardly a winner to be found as the XOI is down nearly 30 points or 3% which is taking anything energy down with it.
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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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4 comments:
I am trying to decide what to buy. LINN and XTEX i guess.
crosstex has the longer track record and the cheiftan buy will allow them to grow distributions. LINN has done okay since its ipo...why not buy both?
I didn't pull the trigger yet on XTEX or LINN. Should have as Nat gas and oil look to have stabilized. I am just worried about going too far into margin. I wish there were options so I could sell puts on them. The other thing out there is CPI on Friday; bonds have had a great run over the summer and could really drop if the Fed isn't done.
One other thing ... I find it interesting that the market doesn't seem to be attaching value to the better LP/GP splits of names like XTEX and LINE. Their lower cost of capital should make aquisitions easier in the later years. Opportunity knocks I think (talking my book of course!).
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