Crude is up 6 dollars (yes 6 dollars) and big energy is up over 3% on most index measures. MLPs are up up modestly. The index is up 1.29 and Atlas Energy Resources (ATN) is up 1 1/2 as the big winner today. Also up Holly Partners (HEP) which is getting back some of what it lost yesterday by 90 cents. Oneok (OKS) Breitburn (BBEP) Constellation (CEP) Linn Energy (LINE) Genesis (GEL) The coal mlps all showing fractional gains.
Dow up 130 but some financials hemmoraging or flat at best. Last hour as always a fascinating time.
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About Me
- 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:
You didn't get a chance to get out of your DUG. Neither did I.
sadly
Joe
What is the DUG hedge?
I am invested in some MLPs and would like to hedge against them taking another tumble as they did in the 1st qtr.
Dug is the powershares ultra short oil and gas (DUG). Its tied to the DJ OIL AND GAS INDEX (DJUSEN)and moves inversely to the index by 2x. So if the index is down 1% the DUG will be up 2% and visa versa.
It works as a hedge against your long MLP poisition if (and thats a big if) MLPS move down as part of a big move down in the big energy stocks. But that doesn't always work.
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