I am beginning to wonder whether we may have to go back to 290 and retest the lows or perhaps we may be setting up to break down below those levels. We're down 8 out of the last 9 days...we go down when the market is down...we go down when oil is up...we go down when oil is down...we go down when the market is up. There really aren't many combinations left. Yield spreads are getting stretched now in the other direction. We're down near 300 even and at the lows of the day.
Penn Virginia Resources (PVR) Holdings (HPGP) Nustar (NS) Sunoco Logistics (SXL) and Linn Energy (LINE) all down around 1 point or more. Alot of other minus signs as most mlps down fractions.
Not may winners...just a few fractional gainers like Martin Midstream (MMLP) Oneok LP (OKS) and EV Partners (EVEP). 300 still holding at this time but barely.
Getting very demoralizing out there.
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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:
Two questions:
1. Does anyone know EROC's 3Q earnings? They were released after the market close but I can't seem to find the results.
2. Also after the close, NS announced that its secondary offering will be priced at today's closing price of $57.20. It would seem to me that this would effectively cap the unit price at $57.20 for a while, but the units could still go lower.
Does anyone know how this has worked with any previous secondary offerings?
Thanks,
Bruce Sherman
Oakland, Oregon
eroc's earnings as of 8pm are not out yet.
as per the secondary...it depends. Usually the offering does cap the stock price for awhile but sometimes like in the case of Boardwalk Partners...it was so anticipated and so oversold that the offering was already priced in. Unfortunately the market selloff took care of any rally..at least for now.
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