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Monday, June 23, 2008

Lots of requests about Constellation Energy Partners (CEP) so here is the chart.



And frankly it looks much better to me. We have a nice double bottom..breakout from a cup and handle formation today as the stock is closing in on 23. Would like to see more volume but we'll take what comes. Moving averages have turned higher and crossing.

Fundamentally the company needs to boost the distribution in July or at least give some visibility about it. My bet here is it goes higher.

2 comments:

Anonymous said...

I'll pat myself on the back and point out that in March I posted that CEP and Line were golden opportunities for us what with the hedge funds having to unload. Not many times the small investor....

Reading Tee Leaves

Anonymous said...

Let's hope MLP's (including CEP) have some follow through tomorrow...we have been disappointed so many times before...