MASTER LIMITED PARTNERSHIPS

Wednesday, August 20, 2008

Interesting action again today as we opened up with oil and ran up over 1 point...ran down with oil to a few ticks on the minus side...now we have left that behind it seems as oil remains down by 2 bucks...big energy is off its high...and we seem to be rallying back up 0.75 on the MLP index. Now granted its not much but its the action of selling off and again not going down further that makes this encouraging.

Markwest (MWE) Sunoco Logisitcs (SXL) and E V Partners (EVEP) lead the way higher up 75 cents or better on all three though off their highs. Targa (NGLS) Suburban Propane (SPH) and Penn Virginia Holdings (PVG) showing losses of 75 cents or worse. So 75 cents is the theme at lunchtime.

Would be nice if we could build on this during the afternoon but as always caution is advised in these sad times we endure!

7 comments:

Anonymous said...: Seeing more 52 week lows. WPZ,DPM, and there are probably others. Long term I'm very bullish, but the AMZ isn't telling the whole story.; 8/20/2008 12:40 PM
Anonymous said...: WPZ is killing me...What the f*ck is wrong with this thing? Giant parent with plenty of drop downs in the future, great assets, yields 9.25%, probably yielding about 10.50% on next years numbers, yet every damn day this thing sells off. Anyone else own this flea bitten dog?; 8/20/2008 12:54 PM
Anonymous said...: Where is that guy who was the AHD cheerleader? Haven't heard from him in a few weeks.; 8/20/2008 12:56 PM
Anonymous said...: Just bought an initial position in WPZ. Hard to beat at this price on a risk/reward basis.

I hope it goes lower so that I can buy some more.

Bruce Sherman
Oakland, Oregon; 8/20/2008 1:00 PM
joewxman said...: the amz never tells the whole story but it is an average...just like it ain't all kinder morgan (sadly) nor is it US Shipping (thank GOD!).

as for the new lows at least the number of mlps making new lows in here continues to slowly and i emphasize slowly thin out.; 8/20/2008 1:02 PM
Anonymous said...: Bruce, if history is any indication, you'll get your wish.; 8/20/2008 1:05 PM
Anonymous said...: As to the AMZ, KMP is closely tied to Goldman Sachs, so perhaps the shorts are laying off that name out of "professional courtesy".

We've learned that a company's prospects are trumped in this market by Macro Issues.

In a shocker!

McCain opens up a 5 point lead over Obama amoung likely voters in the latest Zogby poll.

-----------------------
McCain Takes Lead Over Obama
Reuters
posted: 23 MINUTES ago

WASHINGTON (Aug. 20) - In a sharp turnaround, Republican John McCain has opened a 5-point lead on Democrat Barack Obama in the U.S. presidential race and is seen as a stronger manager of the economy, according to a Reuters/Zogby poll released on Wednesday.
McCain leads Obama among likely U.S. voters by 46 percent to 41 percent, wiping out Obama's solid 7-point advantage in July and taking his first lead in the monthly Reuters/Zogby poll.; 8/20/2008 1:53 PM