There is the feeling that something is getting unwound in MLP land as MLPS are down along with almost everything energy. Still off 4 points and straddling 300 on the index while the dow has come off its low and is essentially flat. Broad tape is still rather weak. Inergy Holdings (NRGP) Energy Transfer (ETP), Holly Partners (HEP) Linn Energy (LINE) and Sunoco Logistics (SXL) all down 1 point or more. Plains All American (PAA) and Oneok (OKS) down nearly 1 point each. Lots of losers with most losses showing major fractions.
Still not many winners...Calumet (CLMT) Buckeye Holdings (BGH) and the Markwest pair (MWE,MWP) are up but not by much.
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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:
is the bombings in mexico related to the downturn of mlps in the US. the news folks refer to it as a terrorist event
i can't see how. MLPS were selling off long before the news crossed. To me it looked like somebody (hedge fund)was unwinding some long positions. Today will be more definitive on that view.
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