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Friday, August 01, 2008

Gaining a little traction here with the mlp index diverging from everything else and the index is now at 273 up 1.73! Energy Transfer Partners (ETP) leads the way higher up 1 and some change. Fractional gains in Plains All American(PAA) Nustar (NS) Buckeye Partners (BPL) Magellan (MMP) and Enbridge Energy Partners (EEP) which has rallied from 45 to 50 this week on earnings strength and the distribution hike. Someone is actually listening!

Not too much on the losing side and most of that is on very light volume which is good. Also beware that sometimes a nasdaq mlp is listed as down even though its ex-distribution.They are not as neat about those things as the NYSE.

Might have a shot at closing near the highs of the week and we haven't done that in a long long time.

3 comments:

Anonymous said...

CPNO hitting a new 52 week low here, while the rest of the group seems to have rebounded of the bottom a bit. Anyone hearing anything?

Anonymous said...

Nice short squeeze in SGLP today. Maybe some people finally realized that SemGroup LP and SGLP are two different companies...

Anonymous said...

MLP's just losing the mojo here. We've been bleeding lower since noon...