MASTER LIMITED PARTNERSHIPS

Monday, September 08, 2008

Here comes the last hour. We are @ 260 on the mlp index and at the lows of the day. Coal and resource mlps are showing losses of 1 point or more and are the biggest losers in the group. Just a few mlps showing plus signs like Nustar (NS) Oneok (OKS) and Amerigas (APU) which are up fractions.

Its all pretty hopeless. The point and figure chart has a downside target of 252. Yeah the bottom of the base is still intact but we're not that far from there.

On the brightside...it ain't Fannie Mae!

4 comments:

Anonymous said...: It's grim...; 9/08/2008 3:02 PM
Anonymous said...: The MLPs are just giving it up here. Nobody wants them. I guess when everything is yielding 15% maybe that will attract a few eyeballs. Its just discouraging owning these things. Fundamentally they make sense, technically we are in a wasteland.; 9/08/2008 3:05 PM
Anonymous said...: Thankfully the Dow is +200, if we were -200 the MLPs would've been in real trouble.; 9/08/2008 3:23 PM
Anonymous said...: Analysts oftentimes say a bottom is in when there is "capitulation".
When our own Joe Waxman becomes discouraged, and can say nothing good about MLP's, I say there has been capitulation.If so, its up and away for MLP's.

At least no MLP' s have lost their star quarterback for the year.; 9/08/2008 3:39 PM