Good Friday morning and a happy last day of trading before Christmas. We actually have some news this morning as TC Pipelines (TCLP) is buying a stake in another company which is immediately accretive to earnings. Nothing else news wise and no upgrades or downgrades. So i suspect that everything will get wrapped up early trading wise and then we'll just tread water the rest of the way.
Weatherwise btw it looks like the pattern will turn somewhat colder late next week and beyond which will probably impact the energy markets as we get closer to the timeframe.
So i'll probably post one or two more times today and then shut down until next Tuesday when the year end games begin.
joseph cioffi's Source Page - Associated Content
2 comments:
Hoping for dialogue. There are many nice gains this year. Perhaps there will be some profit taking in the new year and the market has run a long way without a correction. Have sold some and hope to buy back cheaper in Jan. Fed talking tough on inflation so maybe the next move isn't a cut.
Thoughts?
Okay..my view is since i both trade MLPS and buy and hold. If its a trading position it might be worth to sell and hope (and thats a big hope) that they do go down below your sell point. Also my guess is that some of the bigger winners especially the ipo winners like LINE for example could sell off on the first day of trading in 07 giving you a buying opportunity. I think also there are tax issues right now on selling for 06 vs 07. Its never easy doing this.
As per the fed staying tight...notice that as the fed has talked tough the 10 year yield is going lower and lower. If the fed hikes...especially if the fed hikes for inflation reasons and the economy slows further...then i think 10 year yields will collapse to the low 4% area...MLPS will rally as yield compression controls prices. If the fed does nothing and the economy remains slow but positive with inflation waning...MLPS go higher as well. I think that unless 10 year yields start heading back to 5.25%, MLPS will continue to move higher in a bull move that i think has a very long way to go.
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