Take a look at whats happening to energy stocks and you have your answer as the why MLPS are sinking. The index is down now by 1 point after being up by nearly 4 early. The Fannie/Freddie news is getting moved through the market and little by litte the overall market is selling off. My prediction is we will be down by days end and perhaps down substantially and go below 11k on the dow.
The bear market is long from being over.
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6 comments:
I agree about the bear. Enough of the MLP's are cheap, yields are great, there is value in the sector fantasies. It is time to sit tight and let the market play itself out. Until the MLP's show me that they can hold a line in the sand somewhere, there is no point in adding.
I've tried grabbing the falling knife a few times and my fingers hurt.
Mr. Pipes
CEP doing its daily -5%
Don't worry though "everything is good with the company"
Maybe at a 25% yield it will find a buyer or two...
Performance since July 15:
BKX (banking index)
7/15 46.52 9/8 72.57
HGX (homebuilder index)
7/15 93.75 9/8 137.00
AMZ
7/15 265.52 9/8 261.19
MLPS are sh*t
CEP needs to cut its distribution. That is what this endless selloff in the stock is telling us. Its approaching a 20% yield. Either cut the payout or tell us its safe...but they sit there and say nothing.
"but they sit there and say nothing."
They are just following that old admonition: If you can't say something nice, then.....
Bruce
I sent an email to CEP bitching about the news vacuum.
If anyone else is interested try:
tonya.cultice@constellation.com
Maybe if she gets hassled enough, the assholes will issue a press release...
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