I DECIDED BIKING WAS BETTER
After doing my usual morning scan of news and CNBC and watching a pre opening tragedy unfolding i decided the best course of action was a 3 hour bike ride which i just completed. Sometimes you just have to turn everything off and walk away. I had that vomiting feeling this morning. So i hit the road and i'm glad i did. I see we've been all over the place and while the world has not ended it its teetering on the edge.
Most MLPS are down fractions...no huge losers...a small list of winners but no standouts. No news drivers either. Alliance Resources Partnes (ARLP) and holdings (AHGP) were upgraded by Steifel Nicholas...both are down slightly. Lehman had its coverage resumed at Markwest (MWE) at overweight. The stock is up a small fraction.
joseph cioffi's Source Page - Associated Content
2 comments:
After Bernanke said last week that he thought there would be bank failures, I bought some SDS as a hedge against falling prices. So far it has worked out well but I am still concerned that the MLPs may continue to fall for a while. Surely the yields will stop the downward spiral?
we keep hoping. At least the mlps that were making new lows earlier seemed to have stopped going down while the selling has shifted over to some of the stronger ones in the group.
Looks like we're headed for a capitualtion low on Monday with a hideous last hour coming up.
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