We broke down yesterday with everything else. Its about markets and not about mlps today and of course it all revolves around AIG. One note from yesterday is that Eagle Rock Energy Partners (EROC) has been under some Lehman pressure (note the Lehman filing yesterday in a late night post)...now we have this 13g filing that came up this morning from New Mountain Vantage GP as we see the shares that this group owns in EROC. I'm not sure i completely understand whether this means they've added shares or took the Lehman shares that crossed on Thursday. I'll keep reading it until it sinks in. If one of you figures it out please post in comments.
No news on the corporate front here and no upgrades or downgrades...not that anything outside of a buyout would mean anything today. No real chart support on the MLP index until you get down to around 200...if that happens it comes with a 1000 point or more down day. So its all AIG!
joseph cioffi's Source Page - Associated Content
3 comments:
AIG as I write in the Pre-market hit 2.18 a share.
There is a regularory failure that has damaged the economy and confidence to the extent that it will take years to repair.
APL -10% so far this morning...This is insanity.
You would think at least one exceutive from one MLP would come out and say something about the state of the market. Where is the leadership?
i don't think it matters even if they did. It would be recieved like the statements from AIG,Lehman,Bear Sterns etc...who all said..we are more than adequetly capitalized.
Look at Nustar..record earnings pre announced. Doesn't matter.
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