Crude is selling off pretty hard right now down over 2 dollars and this has taken the XOI which was up nearly 2% just about back to the flat line and the XNG which was up 1 1/2% is now down 1/2%. This action has taken the MLP index down 1 point.
Watch the energy complex carefully...it could get ugly for energy later this afternoon.
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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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4 comments:
What's going on with SGU today?
up 9%. No news. Could be the rally in heating oil but i'm not sure.
or it could be the sell off in heating oil.
the action today in the oil markets was downright nuts.
1st post on this blog, have followed it for better part of 9 months. Very strong mkt. today and mlp's underperformed. These are not trading instruments on 98% of the market days, but sound VERY long term investments generating mostly tax free distributions with substantial dist. growth from higher quality businesses. This is was steady 8-12% annual compounding looks like. If the S&P can hold in or move modestly higher from here, your MLP should move 5% from here. Interesting how $amz is snugging below it's 200day MA the last 8 days.
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