The overall market is very weak being masked by selective strength in a few dow stocks. MLPS are weak...the index is down over 2 points and may make a challenge to the 300 level today the way things are going. The big mlps like Oneok (OKS) for example is down over 1 point. Most MLPS are down strong fractions. Not a whole lot in the win department with Markwest (MWE) up on an Wachovia upgrade and Markwest Hydrocarbon (MWP) up as it gets closer to its buyout price.
This does not look to be a pleasant day as the market has that falling in a sinkhole feeling. Looks like we need to go back under 13K to re-test the lows at the very least.
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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:
Anyone buying MGG? Looks good to me. What are people thinking about ETP/ETE?
MGG probably is okay longer term in here although they have that offering from last week to get fully absorbed. Might be some short term overhang.
As per ETE/ETP i think ETE has more capital gains potential from here thanks to the gp 50-50 splits. Also that FERC issue needs to be resolved.
MGG is setup to have excellent/ideal leverage on distribution growth at MMP. I have written about this extensively on my Motley Fool CAPS blog under user name `sportscliche'.
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