The mlp index has turned lower down 1.30 as the sell off in energy stocks seems to be spreading out while the 10 year rate drops to 5.06%. The loser's list is getting a little longer this afternoon. Buckeye (BPL) Magellan Midstream (MMLP) Calumet (CLMT),Breitburn, Nustar (NS) are all showing fractional losses of 40 cents or more....adding to the losers mentioned earlier.
Eagle Rock (EROC) initially did not sell off on the news of its CFO being in an accident. But now its down 64 cents.
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- 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:
A weekend article suggested investors were ignoring natural gas, thus the lows. Would you believe this might be a good time to grasp a 8 or 9 month commitment to UNG or another area of NG?
Rip
well nat gas at 6.30 is pretty low in my view. The problem with this play is the volitility and the hurricane risk. Suppose we get 2005 again, nat gas could run to 9 or 10 bucks pretty quick which takes ung up quite a few points. I personally think if you have a 9 month timeframe you are getting it alot cheaper than 1 month ago. No guarantees of course. Btw i went long again this morning around 41.25
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