Just seems pretty hopeless in here today. Market is up but we're down. The MLP index is down over 1 point and hovering above 299. There is some support that needs to hold around 297.50 otherwise that ledge formation will turn into a diving board. I would hate to think we have to retest that climax low down at 280.
Energy Transfer Partners (ETP) is down 1 point even though they are boosting the distribution. Plains All American (PAA) Teppco (TPP) and EV Partners (EVEP) down major fractions. Smaller fractional losses in Kinder Morgan (KMP) and Enterprise Products (EPD), two of the heavyweights in the mlp index.
Linn Energy(LINE) Calumet (CLMT) and DCP Midstream (DPM) are fractional winners but all under 50 cents.
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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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3 comments:
yep - somebody wrote this quarter off when you see etp drop on a dist. increase.
oh well..sit, wait, buy some more.
Seeing some large blocks move across the tape. 30k @ 38.50 in TPP a few minutes ago.
i think those large blocks are whatever hedge funds still selling shares before the quarter is up.
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