I am going to live blog the open here...futures down huge..30 points on the S&P. The question is was monday the day hedgefunds did their whole sale dumping of MLPS or are there more out there? Earnings out this morning on Crosstex LP (XTEX) which look very good. Also RBC upgrades Legacy Partners to outperform from market perform. All of this will be somewhat meaningless at the open if hedgefunds are chucking stocks out the window.
Okay here are some early openers. Legacy is trading up nearly 1 dollar! Now there is a surprise. But it has given almost ll of it back. Crosstex is up 1 on earnings. Some earlier openers indicate no wholesale dumping..at least for now. Nustar opens higher. Penn Virginia Holdings opens higher.
Alliance Resource Holdings(AHGP) is down 2. Energy Transfer Partners (ETP) is down 1. So far its nothing like Monday morning. The MLP index is down 2 points and change. Not everything is open yet.
Update..10am...everything in MLP is opened. Nothing overly tragic really. The index is down less than 3 points...no wholesale dumping.
I will be on the road today heading back from Saratoga and Lake George. I will post this evening when i get home.
joseph cioffi's Source Page - Associated Content
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Where are you. We need help.
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