BAD DAY OVERALL MARKET
MLPS...NOT SO BAD
In the last hour at one point yesterday the MLP index had rallied back about half way to a 1.50 loss before they sold it off in the last 20 minutes. Still it was nowhere near as bad as the overall markte which took nearly 400 pts worth of gas yesterday.
When you look at these short term charts it looks to me the mlp index is doing a good job of building a base here while we wait and see what the dow industrials will do as we seem to be in the process of some sort of retest of the lows.
This morning we have Lehman leaving Magellan Midstream Holdings (MGG) at an overweight along with Inergy Holdings (NRGP) and leaving Holly Partners (HEP) at equal weight but they are adjusting price targets down on all three by a couple of bucks. No other morning news headlines. More ex-distributions today so the open awaits us!
MLPS...NOT SO BAD
In the last hour at one point yesterday the MLP index had rallied back about half way to a 1.50 loss before they sold it off in the last 20 minutes. Still it was nowhere near as bad as the overall markte which took nearly 400 pts worth of gas yesterday.
When you look at these short term charts it looks to me the mlp index is doing a good job of building a base here while we wait and see what the dow industrials will do as we seem to be in the process of some sort of retest of the lows.
This morning we have Lehman leaving Magellan Midstream Holdings (MGG) at an overweight along with Inergy Holdings (NRGP) and leaving Holly Partners (HEP) at equal weight but they are adjusting price targets down on all three by a couple of bucks. No other morning news headlines. More ex-distributions today so the open awaits us!
joseph cioffi's Source Page - Associated Content
2 comments:
Does anyone know why MWE is getting hit? I can't find anything in the news.
Thanks,
Bruce
Feels like a bout of panic selling is hitting the MLP's...
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