Another day where the dow was up nearly 200 points. So we've had almost 400 points in 2 days and we are 800 points above the lows in August and November and MLPS are no where. My God even financial and housing stocks have been going up. How bad is that?
Stargas Partners (SGU) which pays no distribution and is in the heating oil business posts earnings this morning. This one is planning to pay a distribution next year based on its reorganixation a few years ago. Not sure how this report puts that prospect. No other news and no upgrades or downgrades.
My horse Farleyshelonwheels runs today in the first race at Aqueduct. Trainer says he's been kicking down the barn door wanting to run. Not sure of the competition but we are ready. Morning line is 4-1. I'll be at the race track for the 12:30 pm post.
joseph cioffi's Source Page - Associated Content
3 comments:
There is some "news" that affect MLPs, that is happening behind the scenes.
Dollar Strengthening ( Foreigners who want high yeilding hard assets will find (Cheap in Euro/Yen terms) MLPS attractive again).
a) Noted Dollar Bear Jim Rodgers went long on the Dollar
b)Goldman Sachs Group Inc. Chief Economist Jim O'Neill said on Bloomberg today " It's hard to be bearish on the Dollar"
c)Nick Bennenbroek head of currency strategy at Wells Fargo & Co., Says Dollar Value at `Bottom': ( also on Bloomberg ).
JF50
"Gather those Rosebuds"....
Joe, as I see from your blog today that you are New York based.
Perhaps then it's proper to note here the sad recent passing of one of the Greatest New York Financial commentators... Larry Wachtel.
His colorful commentary helped pique my interest in investing, and helped me understand the behind the scenes action that caused the day's market moves.
I didn't know the man, but I wlll miss him, especially his trademark
"Gather those Rosebuds".
Jf50
i used to hear him on 1010 WINS from the old bache halsey stewart shields! A regular voice is gone joining a growing list for me...some of whom i have worked with. Very sad and he will be missed.
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