EV PARTNERS CLOSES DEAL AND PRE-ANNOUNCES DISTRIBUTION BOOST...ALSO END OF QUARTER; END OF HALF YEAR GAMES!
One of the consequences of becoming a more popular investment tool is that you start acting more and more like the market does. I think that is what we are seeing in many MLP issues like Terra Nitrogen (TNH) for example which took an 11 point hit or 9% yesterday on no news. I think you saw an end of quarter run-up into Tuesday's close (friday settlement) for those who want this stock on the books by 6/29 close. Now the sellers are booking profits. On the other hand I think Linn Energy was being sold out of portfolios in the last few weeks and that pressure came off yesterday and the stock rose on 100,000 shares+. I think it could continue to rise into tomorrow's close barring any news items. Such is life these days in MLP land.
Meanwhile E V Partners(EVEP) yesterday after the close announced the closing of an earlier announced deal and reminded unitholders that this will result in a distribution boost in the 3rd quarter (October).
The MLP index closed at 329.99 yesterday after the morning reversal. Today the fed meeting is the big player so once they get that out of the way and assuming therer are no surprises we should see more upside. This morning energy markets are firmer and natural gas is back over 7 dollars. Stock futures and the 10 year are flat as we wait for the fed.
Thanks to a poster yesterday for pointing out a new MLP on the market. Spectra LP (SEP) came public yesterday priced above the ipo range and closed well above it. Nice reception by the market and unlike Blackstone Group (BX) this one stays above the opening price in my view!
My horse is running today in the 6th race at Monmouth Park in New Jersey. Hallies Charm (7) will be trying 1 1/16th miles on the grass today and i think she has a shot. So i will be headed there today to hopefully stand in the winners circle. Post time is 3:07pm eastern and for those of you interested you can watch the race live on line. Just click on the broadband link.
joseph cioffi's Source Page - Associated Content
5 comments:
Good luck today at MTH.
Joe - I saw that the 'charmer' came up a little bit short. Looks like she ran a nice race though. Not a bad way to ring up $4500.
How long have you owned this one? How many others do you own?
1st time at a route i thought she ran great today. Should be geared up for next time.
This is my third horse. I bought and sold 2 in the claiming ranks and did okay. Claimed this one from a 20k maiden claimer last year. This was supposed to be a grass race today before they took it off. Next time it will be on the grass..probably in a month or so.
I was looking back through her running lines and saw that she had dropped into claimers and then moved up to be competitive in MSW. Looks like a nice claim!
this race was a real tightener for her. We've been trying to get her on the grass so next time at the route distance she should be productive.
Meanwhile saturday we claimed Farleyshelonwheels from Bobby Frankel for 32k in a maiden claimer. The horse won its race. 3 year old turf at a mile in 1:36. Not bad.
Some of the bigger trainers can't be bothered with horses that don't win stakes races right away. So they let these horses go that need some work. Sometimes a good one falls through the cracks.
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