MASTER LIMITED PARTNERSHIPS

Friday, July 11, 2008

Well considering the horror show that's going on today MLPS are holding up quite well for the most part. There are more mlps down then up but not by much. The index is down about 1 and some change. Oil seems to be directing every tick but even big energy is taking gas today.

Watching how the day progresses. We may be on the way to putting in some sort of climax bottom with this Fannie Mae shit.

4 comments:

Anonymous said...: Alot of crosscurrents to navigate, making it tough to decide how to play things. I have been a buyer throughout this tumult, not making any money though, but looking forward to a big pile of distributions next month.

The financial sector and the government's complete ostrich policy certainly creates a fair
bit of volatility.

Two of the weaker names of late, BPL and MMP, share Lehman as an owner of the GP. That could be playing into some of the selling in those names.

Mr. Pipes; 7/11/2008 12:35 PM
Anonymous said...: From Cramer on thestreet.com:

Inaction Leaves Fannie and Freddie in the Lurch

By Jim Cramer
RealMoney.com Columnist
7/11/2008 12:13 PM EDT

It's not clear how many chances we are going to get to rally on a day like today, where the negativity is thick and the worries supreme. We had it going because oil and drugs are now pretty darned big in the S&P courtesy of the disappearing financial sector--who's coming in for Fannie Mae and Freddie Mac

But we failed because our inept administration gave us a green light to sell. If there is no plan for FRE and FNM, then Monday will be worse than today, people figure, so what's the point.

I have no answer for that, other than to avoid anything that involves borrowing or spending above peoples' means. I look at stocks like Macy's and I begin to question the existence of the joint. I question an Allergan, which I like, because its products are elective. I think people will go without wrinkle free skin for a change. Yeah, it is that bad out there.

There are plenty of companies that will report good earnings--we know that from GE but too many people who think they are nuts buying anything while there is a gigantic financial shroud over the country and the world.

I Can't blame them.; 7/11/2008 12:39 PM
Anonymous said...: Anybody out there today?; 7/11/2008 2:13 PM
Anonymous said...: MLP's cannot ignore gravity forever. We are slowly getting pulled down into the market abyss. Horrible market, horrible leadership in Washington and horrible consequences for the American people.

Optimism is dead, long live pessimism.; 7/11/2008 2:29 PM