Holding that 338 level as we head into the close. Looks like the breakout on the charts is real and not a fakeout so we are at the beginning of another leg up here. Nat gas closed down on the day but the nat gas stocks are up so i'm still betting that the gas will turn higher and i will profit on my UNG trade. As per mlps some nice moves today. Nice to see both Crosstex Energy stocks (XTXI,XTEX) up today. Also Calumet which has done nothing these last few weeks is up nearly 2 dollars today.
Closing firm..should bode well for tomorrow.
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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:
I think we are getting overextended. MLP yields are getting too low (in a rising interest rate environment).
Starting to pare back some positions.
Sold 10% of NRP and 10% of ETP.
never hurts to book profits. 10 year rallying here today on the subprime mess. I still think 5.30% is priced in. If we break above that then we are going to sell-off for sure.
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