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Wednesday, July 02, 2008

Strange day in Coal land as the mineral is getting crushed (KOL) down nearly 4 points. Arch Coal (ACI) is down nearly 10 bucks. No news that i could find. But it is making for interesting tape action. MLPS are up 1 and some change on the index as Plains All American (PAA) which i s a large component is up 1 and change. Magellan (MMP) Martin Midstream (MMLP) Sunoco Logistics (SXL) Atlas Energy Resources (ATN) are up major fractions.

Coal mlps getting hit like Alliance (ARLP), Natural Resouce (NRP) Penn Virginia (PVR) and Penn Virginia Holdings (PVG) all down. Alliance and Natural Resouce down between 1.50 and 2 bucks Gas mlps like Constellation (CEP) and Holly Partners (HEP) losing fractions this morning.

Still in the process of probing bottoms in here while crude touched its top again. They are all linked together.

2 comments:

Anonymous said...

KOL(coal ETF) is down 10% and the coal MLPS are getting killed. Does anyone know whats going on? I can't find any coal news.

Anonymous said...

They've had a good run. Profit taking?