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About Me
- 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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2 comments:
Joe -
Wondering what you think of these dropping yields on MLPs -- most of mine are now sub-6%.
Time to exit for a bit, or building in anticipation of some increased distributions???
VLI has been hammered down and it now looking strong...TP continues its rise...
your thoughts appreciated
Yields continue to compress across the board. And as the stock market volatility has increased in the last 2 weeks...we keep making new highs. What to do.
No doubt distribution increases are being priced in. I also think that there has been some recognition that we actually exist and the relative yield safety is attracting new buyers and driviing us down to the bottom end of the 10 year MLP yield spread.
I have asked the question what if bond king Bill Gross is right? Economy slows and the 10 year eventually heads back into 3% land. Maybe MLPS are forecasting that the economy is going to slow to a crawl. Falling rates...steady to rising distributions mean higher prices.Look at the move from 2000 to 2002 when MLPS rose 50% in value while the market crumbled and the nasdaq imploded.
On a chart basis we closed Friday at new all time highs and still no sign of any topping formation in the group.
Valero LP no doubt has emerged as a leader here and so has Valero GP. I see no reason to sell em yet imho.
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