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Wednesday, October 15, 2008

I figured no point watching it today as the selling resumed and we have now given back 2/3rds of the dow rally but the MLP index has not given back all of its gains from the low. 152 to 216 back to 195 so the index is given back about 1/3. The dow jones oil and gas index (DJUSEN) is down 13% today so big energy is having another crash sell off. There are a few winners today believe it or not. Quicksilver Gas (KGS) is up 1.30. Fractional gains in Calumet (CLMT) Martin Midstream (MMLP)Hiland Holdings (HPGP) Quest Energy Partners (QELP) and Cheniere (CQP); the last 2 are under 10 dollars...way under! Also Quest is noting that a director is selling shares to meet a margin call.

Plains All American(PAA) Oneok (OKS) and Penn Virginia Holdings (PVG) are down 3 points or more and are the biggest losers.

We've just broken through the lows of the day as we head into the close on both the dow and the mlp index.

Not much fun blogging during all this bloodshed.

3 comments:

Anonymous said...

The Dow is down by 733 points, and we are so jaded we don't call it a crash!

Anonymous said...

I gave up a few weeks ago. It is too painful to deal with. The volatility is stunning.

Anonymous said...

Only good news is that my 4 mlp's are down less than the S & P percentagewise, (so far). Which I might add makes sense.

Reading tee leaves