Around 10:30am somebody did a massive dumping of MLPS. If look at the daily tick chart a number of mlps and gp's imploded almost all at the same time. Leads me to believe some fund or brokerage or somebody needed to sell something. Maybe to make a margin call? I have no proof of this but i guarantee somebody threw in the towel!
The index is at 294.05 down 1.40 on the day. Natural Resource (NRP) and Penn Virginia Holdings (PVG) are both down about 1.75 on the day as the biggest losers. Nustar (NS) is also down about 1. Holly Partners (HEP ) is down 1.25. Nustar Holdings (NSH) is down nearly 1. Hiland Holdings (HPGP) is also down about 1.
Kinder Morgan (KMP) comes out with earnigns and distribution info after the close today. The stock is up fractionally at just under 56.
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3 comments:
MLP's battling back. HEP is the "Dog of the Day"
EROC also getting blasted on huge volume dumping.
Lehman Bros. has been a steady seller. As of their last published form 4, they still had over 7.44 million shares. (Jan 11)
JF50
http://yahoo.brand.edgar-online.com/default.aspx?cik=1326428
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