MASTER LIMITED PARTNERSHIPS

Monday, October 27, 2008

Down 4 then up 1 then down 2...moving with the overall market today which is well off the lows..was down over 200..then up 60...then down 120...now down 30 as of this post.

Martin Midstream is a 1.40 winner. Otherwise some fractional gains in Alliance Resource (ARLP) Buckeye (BPL) Calumet (CLMT) Penn Virginia Resource (PVR) and a couple of others.

Legacy (LGCY and Markwest (MWE) Boardwalk (BWP) and Atlas Resource (ATN) are down 1 or so each among the bigger losers.

Market has a feel like its trying to put in some sort of floor for a tradable rally.

7 comments:

Anonymous said...: Good Morning
I'd like your ideas on the ETN "BSR". At some point it's not a bad idea dollar costing into mlp's. I'm just interested in your take. Have enjoyed your site now for over a year.
John; 10/27/2008 11:28 AM
Anonymous said...: Joe,

Make sure the "floor" the AMZ is standing on isn't a trapdoor!

FedUp!; 10/27/2008 12:15 PM
Anonymous said...: Hi,

As a newbie here, most of this is wway over my head. Just bought some KMP for my regular account. I understand I can't put it in my tax deferred account (must use KMR?) What other MLPs have a feature that you can place in your tax deferred accounts? Enjoy what I nderstand and will try to learn from all of you. Rick; 10/27/2008 1:05 PM
joewxman said...: It isn't that you can't put an mlp in a tax deferred account. The issue is unrelated business income(UBTI) which can't be over 1100 bucks otherwise you owe tax. You'll find this out come tax time when you get a k-1.

My view on this issues has always been..if you think you are going to get 15% a year return..then to me it doesn't matter. UBTI can be a negative number and you can offset a positive number in one mlp with a negative number with another. This comes up all the time and i suggest you check with your tax guy. i have mlps in my ira.

As per the ETN question..i agree with your premise of dollar cost averaging the ETN or any other mlp as long as they are among the distribution growers. The faster and more consistent the better.; 10/27/2008 1:13 PM
Anonymous said...: The Atlas co's just declared distros.; 10/27/2008 2:18 PM
Anonymous said...: Here's a pretty good article from TheStreet.com called Pipeline Companies Get Ready to Heat Up:

http://xrl.us/ovap6

Lee; 10/27/2008 2:38 PM
Anonymous said...: NGLS suffering through some "forced" selling today. They have a $50 million buyback program and announced a distribution increase.; 10/27/2008 2:57 PM