Market up again up 100 points..MLPS hardly moving on the index up about .20. I'm not sure whats driving the action as DCP Midstream (DPM) is down 1 and change but on not much volume. Maybe its tax loss selling by somebody. Holly Partners (HEP) Transmontaigne (TLP) and Calumet (CLMT) are down 50 cents or more. Teppco (TPP) Alliance Resource (ARLP) and Nustar (NSH) are losing smaller fractions.
Copano (CPNO) and Atlas Resource (ATN) are up just under 1 dollar apiece. Spectra (SEP) Atlas Holdings (AHD) and Energy Transfer Equity (ETE) are up fractionally as are Kinder Morgan Partners (KMP) and Martin Midstream (MMLP).
We'll look for a last hour push in the group. Meanwhile after today there are only 14 trading days left in 2007 for tax loss selling.
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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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8 comments:
TPP added to the naked short threshold list today. Short interest as of 11/15 was 830,019 shares vs. average daily volume of 152,241, bringing days-to-cover to 5.45
i guess that means more shares to be bought back down the road.
EROC has continued its fall today as it hit its 52-week low.
Bruce
What are peoples favorite MLPS currently? I like LINE, USS, BBEP, CLMT, AHD, NRGP, NGLS, EROC, BGH, CPNO
I find the short interest in TPP to be odd. TPP is among the more liquid MLP's. I have always thought of it as a low-growth, low-risk investment with minimal correlation to energy prices. It seems an unusual pick for short sellers.
Bruce
I am always confused when somebody talkes about wanting to take tax losses in MLPs?
If I sell all my shares in an MLP stock and don't by any of that stock back before the end of the year and I've owned it for a few years. I'm going to have pay through the nose for taxes. I try not to sell all my share in an MLP or i buy some of the shares I sold, before the end of the year. Even it is only a few shares. As long as you own some of the shares in the company in the end of the year, you don't have to pay the pipper.
A poster wrote:
"As long as you own some of the shares in the company in the end of the year, you don't have to pay the pipper."
---------------------------------
If you sell any shares in a MLP( that's not in a IRA or other similar account ), you have a taxable event.
Long time MLP owners have to be aware of the tax consequenses of suspended losses from prior years.
Due to IRS rules, you can't apply the suspended losses that MLPs generate from prior years until all your units in that account are sold.
Therefore long term holders who sell must sell all their units or face horrible tax consequenses.
It happened to me 2 years ago.
What's more you have to be completely out of the MLP on DEC 31to be able to use your suspended losses. IE: If you sell all your long time held shares in a MLP on Feb 2, 2007 , but buy 1 unit back on Dec 31,2007. Your suspended losses, stay suspnded.
More Supply, shares existed, now they can be sold.
EROC Filed for selling unit holders
18,574,496 common units today.
http://yahoo.brand.edgar-online.com/fetchFilingFrameset.aspx?FilingID=5590420&Type=HTML
JF50
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