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Thursday, August 28, 2008

Tug of war between the overall market (sharply higher) and the oil and nat gas markets (now sharply lower) and the MLP index is following the later now after jumping up to just shy of 273 we are down fractionally on the index.

EV Partners (EVEP) is the biggest loser down 1 and some change. Some of the heavyweights are down like Kinder Morgan (KMP) Sunoco Logistics (SXL) and Enterprise (EPD). Meanwhile Buckeye (BPL) and Williams (WPZ) are fractionally higher with Williams looking at the 30 dollar level.

Was hoping for another day of solid upside but we are near the top of that base range so we'll see what happens this afternoon.

3 comments:

Anonymous said...

just backing-and-filling. we cant go up in a straight line, that would be too easy.

is gustav changing course?

joewxman said...

its a little south of where it was forecast yesterday...still the weather models take it about the same place in the north central gulf but the margin of error is pretty wide.

Anonymous said...

Anyone have an opinion on the new shipping ETF. "SEA"?