Ugly out there kids and getting uglier by the minute. The dow is down 220. Oil is up nearly 4 dollars and close to the top of the recent range. Natural gas is now rallying sharply. Gold is up nearly 30 bucks. Even big energy stocks are selling off. MLPS are down sharply with the index down nearly 4 points to 283. And its the big boys getting hammered today. Kinder Morgan(KMP) is down 1.58 and leads the losers list. Hiland (HLND) Copano (CPNO) and Buckeye (BPL) all down about 1.
A handful of winners. The Alliances (ARLP,AGHP) Atlas Resource (ATN) Exterran (EXLP) and Enbridge (EEP) all fractional winners.
Dow now down 240. Get ready for a bloody afternoon as all important lows are being challenged and taken out.
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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:
Someone was in a big rush to unload MLP's at around 10:30 this morning. Seems like another wave of liquidations in the sector.
Glory!
Mr. Pipes
hold your nose and buy people!
where else can you get growth, yield and hold tangible assets that private equity firms want to buy???
its ugly out there, but try and ignore the noise.
Fed Up
Ask yourselves this question? Has anything changed in the last 24 hours which will effect the financial results of individual MLP's? My humble answer is no.
This is just mindless volatility.
Billions of dollars of value destroyed from day to day. Natgas will still be drilled, gathered and processed, same for crude, products are still be consumed, etc.
Turn off CNBC and start reading 10K's and 10Q's.
buying EPB, NGLS and CPNO today. brutal out there.
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