Dow up 200...MLPS up a small fraction but most mlps are actually higher. Enterprise Products Partners(EPD) Plains All American (PAA) and Oneok (OKS) are fractionally lower and are the drags here.
Sunoco Logistics (SXL) Kinder Morgan (KMP) and Boardwalk (BWP) lead the way higher up about 50 cents apiece and are the 3 big winners today. The strength should spread out and gain traction as the day wears on with the dow gain.
The unholy trinity continues...Linn and Eagle Rock are each up 5 to 10 cents ( wow) while Constellation (CEP) is down 5 cents. Remember that it is impossible for all three to close higher at the same time.
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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:
Line stock hitting the market this week. It's going to be messy
DJIA +1.70%
S&P +1.51%
MLP's going nowhere...
If you are talking about the filing yesterday by Deutche Bank; the odd thing is unlike 2 weeks ago Linn did not sell off when the filing hit. Grasping at straws? maybe.
This Saturday the 16th, 95% of the public float of Linn becomes unlocked. This is from the "mother of all Pipes" they did to finance their big aquisition in the fall.
Linn is a disaster...
Add WPZ to the list of MLP's whuch never goes up. This thinh has gone down every day for the last 3 months. Piece of sh*t.
On the other hand...what about the possibility that upon release of those shares...that this is all been priced in?
I love WPZ because it is so closely aligned with WMB and all those dropdown assets in the queue. That distribution is all but guaranteed to go up -- and it has been. Individual investors, however, are powerless to do anything about the price. Recall that Buffett says "In the short-term the market is a popularity contest; in the long-term it's a weighing machine."
What would you rather own: GOOG -- where the earnings may or may not increase from quarter and which you will get paid exactly zero or WPZ -- where almost all the revenue stream from that quarter winds up in your pocket? Let the market sell WPZ. Value wins in the end.
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