ON VERGE OF A BREAKDOWN
WHAT WILL MLPS DO?
The answer to that question is...it depends. If the selloff in the markets gets serious as the day wears on then everything gets taken out although on a relative basis we should go down less. Thats my opinion. Crude at 138 this morning up another dollar and change. There are no corporate news drivers out there this morning and i think we are also seeing some end of quarter nonsense going on. Witness the run in energy stocks yesterday. I think people were falling all over themselves trying to get anything commodity driven into their portfolios. This use to happen on the last day of the quarter but they seem to be gaming the system early to avoid the eyes of regulators. To me it looks like we are going to new lows on the dow s&p etc etc. MLPS are 25 points above their lows as measured by the mlp index which was up 3 and some change yesterday to 289. Then of course there is the fed meeting and its not so much what they will do but what will they say in their statement.
Nothing on the upgrade downgrade list this morning. So unless something breaks we crawl to the open. Seatbelts fastened everyone.
joseph cioffi's Source Page - Associated Content
3 comments:
does anyone have any insight into DMLP
they are a US royalty trust that benefits from higher natural gas prices, which explains their recent rise. HGT and SJT are two similar names.
Google their annual report for charts, etc. THEY HAVE HAD A VERY SUCCESSFUL HISTORY of exploiting mineral rights and retaining an interest in future production.
The secret sauce here is they control rights to thousands of acres in the Fayetteville shale area which IS ONLY NOW BEING LEASED FOR DRILLING (NATURAL GAS).
Check McDep link for assessment. I bought 5/12/08 and am up 26%. Got tipped to it on THIS (Joe's) site. Thanks so much for your work.
Dave
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