MASTER LIMITED PARTNERSHIPS

Friday, August 08, 2008

Either Constellation Energy Partners (CEP) is carving out a double bottom or its on the verge of another breakdown. Down 1.50 @ 15!

Anonymous said...: CEP announced disappointing 2Q earnings, is in a particularly volatile segment (E&P), has significant commodity price exposure--and energy prices are falling.

Not hard to suspect that CEP could break down to all time lows.

Bruce; 8/08/2008 11:23 AM
joewxman said...: i know...but at some point this has got to stop.; 8/08/2008 11:51 AM
Anonymous said...: The NPV of CEP even at these gas prices, is in the 20's and they are well hedged for the next few years. I am holding.

rrcbenjy; 8/08/2008 12:25 PM
Anonymous said...: I'm not just holding, I continue to buy a basket of ever so lovingly selected MLPs. Blame it on my ‘glass-half-full’ worldview…

Although this market hasn’t completely obliterated my sense of humor, I did notice my wife hiding the knives today. Thank God it's Friday; I see copious amounts of chardonnay and a cigar in my immediate future followed by two blissful days with no market activity, headache or not.

Actually, I remain extremely bullish on this asset class. The drumming MLPs have taken over the past year is market inefficiency at its best. It’s irrationality on steroids. Without impatience, fear, and herd-mentality, spectacular opportunities would be non-existent. Besides, I’d rather go broke than die of boredom.

Lee; 8/08/2008 12:49 PM
Anonymous said...: At this rate, you will live forever.; 8/08/2008 12:57 PM
joewxman said...: save me a glass. Going for a cigar myself shortly.; 8/08/2008 1:22 PM