MLPS have been left behind in this rally today. I still suspect some orderly unwinding of positions is going on from some hedge fund. The index dropped to 299.30 but is now back over 300. Williams (WPZ) is the biggest loser down 89 cents and there is a long list of big cap losers of major fractions.
Hiland GP was down to 29 and has now reversed and is up 1. Natural Resource (NRP) is up nearly 1 point. Penn Virginia Holdings (PVG) Martin Midstream (MMLP) among others are fractional winners.
Last hour coming up. Dow adding to gains. Lets see if the index can close up by days end.
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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:
Why do you think that the MLPs are doing so much worse than the market in general these days -- even on huge up days like today the MLPs are down, and when they go down, it's so much greater than the rest of the market, and the up move is much less -- do you think the insitutional money that left these securities will re-enter? If so, why?
I think we are seeing another hedge fund or hedge funds liquidating positions. It certainly feels that way. I can't prove it until i see any sec filings. Mlps are still about 15% higher than a year ago without distributions..my guess is if profits are still there they are getting booked by holders while they are still winners.
Most of the losers have been the bigger cap mlps. We'll just have to take it day to day.
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