The view that yesterday's move was end of quarter window dressing gains some traction today as energy is down however the losses are less than what was gained yesterday. MLPS are lower with the index down 1.60. Nat gas being down today is pulling most of the nat gas mlps down with it. Oneok LP (OKS) is among the leaders on the losers list. Holly Partners (HEP) Penn Virginia Holdings (PVG) and Plains All American (PAA) all of them down major fractions to 1 point. Atlas Pipeline (APL)and Atlas Resources (ATN)Copano (CPNO) Crosstex (XTEX) Hiland (HLND) and Energy Transfer Equity (ETE) down fractionally.
Dorchester Minerals LP (DMLP) is up another 75 cents to 35. Alliance Resource (ARLP) continues on its tear up 1. Nustar (NS) has moved back to near 50 and is up fractionally along with Calumet (CLMT) and Magellan (MMP) also fractionally higher.
Overall market went below the March low on the dow this morning when we were down 100 points. We're now up 25 on the day. So far just a dead cat bounce. Crude is down fractionally.
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3 comments:
Wow this tape is reminiscent of paint drying. Nothing interesting at all out there.
Looks like yesterday's MLP move was just another one day wonder. As usual no follow through...
The US economy is a mess, our govt is a rudderless ship, inflation is roaring higher, stock market drips lower on a daily basis, its hard to be a bull...
Take a look at Inergy Holdings (NRGP) if you want to watch the best when it comes to watching paint dry!
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