Well we seem to be picking up some steam here as the MLP index is now back to 291.55 and ticking higher. There continue to be some year end distortion as some of the big caps like Nustar(NS) and Plains All American (PAA) are weighing the index by being flat or down. But some of the smaller caps that have been beaten down pretty badly are up nicely. Linn Energy (LINE) and Calumet (CLMT) are both up over 1. Eagle Rock(EROC) is up nicely as are Breitburn (BBEP) Penn Virginia Holdings (PVG) and new issue Quest Energy Partners (QELP).
I'm starting to feel a little better as the mlp tape has a nicer feel to it. Certainly its better than anything we've seen in weeks.
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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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2 comments:
For what its worth-I'm a buyer today. My rationale is as follows:
1. The sector has been in the toilet almost 6 months.
2. Sector fundamentals are solid.
3. We have seasonal factors which are exaggerating the price weakness.
4. Sentiment is horrible, even among diehards like us.
Sounds like a recipe for a bottom. Who knows maybe Santa can deliver an MLP rally before the year is up!
Merry Christmas to everyone. Let's hope 2008 rewards our trading efforts.
DS
PS I posted this earlier also.
merry christmas to you!
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