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Wednesday, July 23, 2008

When shell corporations with negative net worth (in polite circles known as banks) can rally and you can't...there is a problem. With energy stocks as a whole down nearly 3% its hard to fight that headwind. MLPs are down with the index off 1 and change. Kinder Morgan (KMP) the heavyweight is the big drag down 1 and change. Copano (CPNO) also a 1 point loser. Not much has changed really from earlier. Holly Partners (HEP), Exterran Partners (EXLP) and Sunoco Logistics (SXL) are the 1 point plus winners as we crawl toward the last hour.

Crude oil closing down another 3 dollars and change. Nat gas has sold off as well.

UGH!

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