The comments section has been getting very active lately which is wonderful. Post away kids!
Meanwhile we managed to cut our losses in half on the mlp index as energy collapsed early and then rallied back about 2/3rds of the way. All of this in the face of a solid market rally which took the dow over 13000!
Holly Partners (HEP) ripped higher by 2 and change today. No news here. Markwest (MWE) was up nearly 1. Nustar Holdings (NSH) Penn Virginia Holdings (PVG) Oneok LP (OKS) all moved nicely higher by major fractions and in PVG's case it went ex-distribution on top of it.
Breitburn ups its payout to 2 dollars annual and the stock drops a dollar. Imagine what would happen if they actually came out with bad news! Copano (CPNO) was down 1.25. No news here and it had already gone ex-distibution 2 days ago. Hiland (HLND) Plains All American (PAA) and Atlas Holdings (AHD) showed fractional losses.
This morning they had some clown on CNBC talking about energy stocks worth considering here and Plains All American (PAA) but the guy says something about the PE being a little too high on this one. Shows you how much these guys know about MLP's....its about distributable cash flow!!!!!
Energy looks to continue to weaken in the face of a rising dollar. Today was really all about Exxon which led to some ridiculous wholesale selling. Once things settle down here i would expect MLPs to begin to distinguish themselves from the rest of the pack. There are some nice bases forming in a number of MLPS and one of these days we will break out of this bear grip.
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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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7 comments:
MWE has been so strong lately that I'm starting to feel bad that I didn't buy a whole lot more of it.
I was wondering why PAA was so weak in the morning, must've been those comments aired on CNBC. ...good opportunity to buy more, which I did.
Has anyone noticed PSE? It's the first upstream MLP to IPO since the dual catastrophes of QELP and VNR, and it actually opened on an uptick! VWAP today was $19.85 but it closed at $19.65 after pricing at $19.00. It's definitely good to see the MLP IPO market open for business.
Look at a chart on CPNO and you'll see that it rallies at the end of each month, only to sell off on the first couple of days of the next month. It almost seems as if it's manipulated to print at a high close for a month's end statement.
Crazier things have happened!!
What's with CEP today. Very strong Volumn. up $.17 on 2.15Million shares. Stock market adage-Volumn preceeds price (hopefully). Where are all the doubting thomas's). Maybe me?
CEP is the most heavily traded of all the MLP's at 12:30
Reading-tee-leaves
CEP has just worn me down, I hope it goes up finally, but I wouldn't bet on it...
HEP has seen some wild price action today also...
Mr. Pipes
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