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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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7 comments:
It seems that what ever happens in the economy (Oil prices, Nat Gas prices, Treasuries, the Dollar, Gold... going up or down) the markets responds by selling the MLPs!
I too am very frustrated.
it seems like just a matter of time before we test retest 290 for third time on the amz index. i hope it holds.
lf
brother...and i thought august was bad!
Today I gave your blog a mention, it ain't all that bad. Down markets bring times for buying.
Avi
very smartinvesting.blogspot.com
Well guys, I'm not going to get caught up in this gloom and doom. I am a long-term-buy-and-hold guy and when I see huge yields that are only going to get bigger, that spells V-A-L-U-E. If I can buy something that is going to pay me 7+ percent while I wait for the market to figure itself out, that's fine by me. Those distributions keep pouring in and I'm using the proceeds to keep buying more. Hell, EPD lets me DRIP with a 5% discount to boot. I hope prices keep going down because the yields will just get that much fatter. If there are a bunch of idiots who want to sell their MLP units to me at fire sale prices, well, I'm certainly not going to complain or talk them out of it.
Lousy day,
But interesting chart:
It seems that while the Dow, and S+P sold off after 2:45( to thier lows of the session ) the AMZ rallied into the close ( we cut our losses by about 45% fom the days lows ). I used SPY + DIA as a proxy for the indicies in this chart.
JF50
http://finance.yahoo.com/charts#chart3:symbol=^amz;range=1d;compare=spy+dia;indicator=volume;charttype=line;crosshair=on;logscale=off;source=undefined
Ah well, the link didn't seem o work,
To replicate the chart on yahoo Finance, bring up a one day chart for SPY DIA ^AMZ
JF50
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