MASTER LIMITED PARTNERSHIPS

Tuesday, September 09, 2008

Now approaching a 6 point loss on the MLP index. Its just in free fall with the rest of energy. We could see that 252 point and figure chart target hit around lunch time. Selling has a sense of panic to it in other energy stocks so someone is liquidation wholesale.

1 comment:

Anonymous said...: Lots of great stocks are being sold off as well.

Nue at annual low 42.40 -9%+

FCX at annual low 66.70 -7.5%'

CBI at annual low 23.56 -6.4%

I think that the market has finally realized that we're in a recession at best, looking down into at edge of the abyss.

Throw in a fear of redemptions by hedge funds, Lehman ( not to mention wamu ) on the verge of colapse, the bailout of Freddie and Fannie ( foolishly without bailing out the preferreds ( held by banks ), uncertainty over the election, and tax selling,... means fear trumps greed.; 9/09/2008 10:59 AM