TRADING WINDING DOWN AS
SANTA APPROACHES
The fat old bastard better have MLPS in his big red bag! Yesterday we went nowhere.
There are those who follow charts that might look at that triple bottom and say the end of this grueling period is here. Candlestick worshippers could look at that cross formation from yesterday as a bullish sign. We'll see. Nothing going on today corporate wise and no upgrades or downgrades so its year end stuff and options expiration that provides us with the main action today and tomorrow. Stock futures are strengthening this morning and it looks to me like the market wants to rally here. I went through the new lows list and did not see anything on there from yesterday so maybe some hope there. If this is like DEC 2005 then the bottom was either yesterday or today.
joseph cioffi's Source Page - Associated Content
6 comments:
Maybe "Yesterday we went nowhere", but going nowhere beats going down. People who have bought MLPs recently have seen losses, a little stability is a good thing.
Maybe after some stability, we'll start going up. In mid January the focus may turn to anticipation of distributions ( and distribution increases ).
JF50
It may be a little while longer before we carve out a bottom. The price action is really discouraging. I am a bit surprised that the higher yielding MLP's are not getting bid interest. 8% in an environment of 4% 10yr yields should attract some buying interest, yet it has not...In the meantime I will keep adding, but the lack of interest out there is frustrating.
DS
DPM +3% on volume of 900 shares. SGLP -3% on volume of 3000 shares. This market and the lack of liquidity is really a joke.
Don't be angry, be smart. When presented with a ridiculously low price thanks to low volume, BUY!
Sooner or later, prices will reflect reality.
Bruce
We just continue to bleed here...
No love.
we have hit 290.90
place your bets
lf
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