Scroll down to Bud Heavy's post for some excellent data and a few choice comments which i believe were spot on.
Oil is down but well off its lows which took it down to the base of the channel on the chart which on the USO is at 106.75. That has got to break. No island reversal yet but we're setting up for it.
MLPS down wiht the index down a little less than 2 points as energy stocks are getting sold off on lower oil and nat gas. Dorcester Minerals (DMLP) and Alliance Resource (ARLP) are both down 2 points or more but they have had great runs in here.
More later after the fed.
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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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2 comments:
Blackstone Breaks For Pipeline?
In another energy play that could be announced as soon as today, Blackstone is expected to team up with GSO Capital Partners – the hedge fund it bought earlier this year – to invest an estimated $500 million in a new pipeline company with a rather big name tied to its management.
Crestwood Midstream Partners LLC, a new pipeline company run by energy-industry veteran Bob Phillips, is expected to announce Wednesday a $500 million investment led by private-equity firm Blackstone Group.
Partnering with Blackstone on the deal is GSO Capital Partners, the Blackstone-owned hedge fund it acquired earlier this year. The transaction is one of the first instances of Blackstone and GSO investing side by side.
Energy-investment specialist Kayne Anderson is also part of the investment.
Until 2007, Mr. Phillips served as the chief executive of Enterprise Product Partners LP, one of the country's largest pipeline companies. Prior to that he ran GulfTerra Energy Partners LP, another large pipeline business.
"There's never been a better time to invest in America's energy infrastructure than right now," Mr. Phillips said in an interview.
Incredible how private investors see enormous value in the midstream space, yet the public markets see none. Food for thought.
Mr. Pipes
i think its the bear market mentality for public mlps. But no question that private guys have the correct long term view. This one seems very interesting for sure and when a former big cheese of Enterprise (epd) is involved it would be wise to pay attention.
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