Oil weakened as the day wore on and closed at 53.99 and that took big energy down. MLPS to me continue to hold up well. The index is down 1.60 but again there are a slew of ex-distributions today so its impacting the index price which is not adjusted for the payouts. Markwest (MWP) Calumet Products (CLMT) are up a point each and Markwest Energy (MWE) is a strong fractional winner. Copano is at 62 and change now and is up another fraction.
Eagle Rock (EROC) near its low of the day after cutting its outlook...down 1.70. Line Energy (LINE) is down 50 cents and nearing the 32.
Based on this chart i would back up the truck and buy if we pullback near 31 or just under it. I'm going to use the 34 day moving average as an entry point.
joseph cioffi's Source Page - Associated Content
2 comments:
Got my order ready to go, Joe! Let's see if LINE makes a winners aagain!
Carlos
we can only hope and pray.
E.V. Partners has the same distribution distortion as LINE although it doesn't sell for as much of a discount. Also its a more recent IPO...will watch carefully.
Post a Comment