MASTER LIMITED PARTNERSHIPS

Wednesday, September 03, 2008

Down 3.13 on the MLP index. The commodity liquidation is in full swing today.

Remember if we are building a base...its a long frustrating process. A few bright spots as Nustar(NS) and Nustar Holdings (NSH) have turned fractionally higher.Holly Partners (HEP) which has been a victim of selloffs in the past is up 1.20 and over 35! Calumet (CLMT) is up a touch as crude drops again.

Losers today reflect the liquidation going on. Kinder Morgan (KMP)is down 85 cents and Enterprise (EPD)is down nearly 50 cents.

At some point the liquidation will stop. All part of the bottoming process.

2 comments:

Anonymous said...: Joe,

MLPs have been in liquidation mode since August 2007. When do they get into accumulation mode? Every damn data point seems to be a reason (excuse) to sell.

FedUp.; 9/03/2008 1:16 PM
joewxman said...: i think the sell off today is different and it may be that we are at that point that these stocks are being accumulated by someone...although they are also being thrown out the window by someone as well.

258-260 is the MLP index low..and right now we are above that. Bottoms take time.

And yes..i know some mlps are down much more than the index...but some mlps are down less than the index..so it evens out.; 9/03/2008 1:25 PM