BETTER FOOTING FOR MLPS AS
RECOVERY CONTINUES
Add another 3 points to the MLP index yesterday and we start the day at 304.23. Still some headroom until we get to the 200 day moving average so prices may continue to inch their way higher. So we begin another Friday here with at least some slowly building confidence. My IRA account yesterday closed at a new 52 week high which if you consider how its been since early July. It helped having 2 gutsy trades including a 17 point move in Terra Nitrogen (TNH)I held my nose and bought when the stock dropped into the upper 60s. And my other holdings have recovered to some degree plus another distribution cycle. So for the the sound and fury i am in a good place. I hope the same for all of you.
This morning is quiet. Stock futures have been firming from overnight and are sitting near the flat line. No corporate developements and no upgrades or downgrades on the list.
Dan Duncan continues to buy up shares of Duncan Partners (DEP) on the open market. Headlines this morning as they break.
joseph cioffi's Source Page - Associated Content
3 comments:
Take a peek at GEL insider buys, looks like same story as DEP
EXLP is down 10%, previously UCLP. I have no clue why. Notice that ETP has recovered well after it dropped a lot following potential fines of over $100MM. CLMT was mentioned as a holding in the Fairholme mutual fund.
I wouldn't read anything into the EXLP drop today, as the volume was an almost non-existent 2500 shares. This will often happen with thinly traded, low-cap stocks.
EXLP (formerly UCLP) is one of my favorite MLP investments. Merged with their biggest competitor and a huge horde of assets to be dropped down. Lots and lots of distribution growth is coming. The only publicly traded MLP doing contract compression. Currently in the 2% tier of the IDR.
And it's on sale at the moment.
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