Of course with energy stocks gettinng hammered...mlps are now going to follow...energy stocks! The mlp index is down nearly 3 points or 1%. The XOI index is down over 2 1/2%. Glory!
Calumet is down 3 and change and under 15 bucks on the distribution castration. Nustar (NS) is down 1 and change on the Morgan Stanley castration. Constellation (CEP) is down 75 cents to just above 17 because all this stock ever does is go down anyway. Coal MLPS Natural Resource (NRP) and Alliance Resource (ARLP) are both down 1 each. Magellan Midstream (MMP) is down another dollar. And of course a mile long list of fractional losers.
You can sense a certain degree of frustration here but its how they finish the day. I'm not hopeful but one never knows.
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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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19 comments:
I guess if crude ever drops back to $80/bbl, most MLP's would go to zero...This is just pathetic.
CLMT just doesnt seem appropriate for the MLP structure to me.
There does seem to be a tendency for MLPs to sell off every morning and then spend the rest of the day slowly grinding higher. Anyone else notice this? Any explanation for it?
AHD -4% on 11,000 shares. The liquidity in some of these names is horrible.
This NS downgrade is absurd. The avg Wall St ANALyst doesn't know a damn thing.
Sign of the oil top:
http://cosmos.bcst.yahoo.com/up/player/popup/?rn=289004&cl=7541194&src=finance&ch=4043681
Does anyone know the reasons given for the downgrade?
One would think that NS's 1Q results--that were far above expectations--would suggest differently. In fact, after the results were announced, Citi reiterated NS as its MLP rec. of the year.
Bruce
Bruce,
Maybe someone can post the MS report.
I own NS.
DS
AMZ -0.71%
S&P +0.83%
Glory!
I hate to say this, really I do. But...........haven't you folks heard the old adage, "Don't ever fall in love with a stock"? Which in this scenario, I of course refer to as the MLP sector.
How beat up do you have to get to give it up?
I'm sure someone will chime in with, "Well, somebody always sells at the bottom". Or, "I'm not concerned, I'll just sit by and collect my 9% distribution a year" [while your principal is disappearing]. It's a double whammy, you're not only losing money in the MLP sector, you're losing money by not being in the general market. i.e. at this moment, spx up .9%; AMZ down .9%.
Yep, no doubt about it, the sector sucks ass...
AMZ -0.73%
S&P +1.00%
Ok, that's stats for one day. How about over the last 6 months ?
Last 6 mos
AMZ -6.12%
S&P -7.18%
...not as bad as the S&P then. That's what I thought.
still sucks though...
Great advice by Morgan Stanley today. They cost their investors over 1pt each on NS. That is what you get for listening to ANALysts.
Lehman has more favorable coverage of NS, imho.
Sometimes it appears to me that Wall Street firms issue a sell on a good stock in order to block a clear path for their clients to buy it. There are times when they issue a buy to help their clients get out of a position. If you like a stock, don't let the analysts' bounce you around. If you don't like it, you shouldn't own it anyway. The analysts have to justify their existence so they issue buys and sells. In a few weeks the impact of the NS downgrade today will be nill.
My 2 cents worth... For free!
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