MORE WILD RIDES!
I know a lot of you were complaining about the rally (or lack there of ) in MLPS yesterday but i would expect it play catch up today. This has happened many times lately. And there are no negative drivers today so we'll take it through the open and then wait for the oil numbers and then the fed. Crude is playing catch up this morning up 4 dollars. Nat gas and gasoline are higher as well. They did not rally yesterday with the market. Stock futures are well off their lows and are basically flat this morning.
Exterran Partners (EXLP) boosted its distribution last night by 4 cents. Buckeye Partners (BPL) put up earnings last night and another distribution increase. No other news and no upgrades or downgrades so far.
There are some end of year pension fund and mutual fund distortions going on which may be playing into why some mlps moved up yesterday and some did not. Markwest (MWE) and Atlas Pipeline (APL) among others have been under some pressure lately and that pressure did not come off yesterday. No news headlines driving this that i could tell.
joseph cioffi's Source Page - Associated Content
3 comments:
Market goes up 10% and we go nowhere, market flat this morning and MLPs are red. Wonderful.
ATLAS IS A PIECE OF SHIT. THIS DAMN THING NEVER GOES UP.
EITHER THIS IS THE BUY OF A LIFETIME OR THE COMPANY IS A COMPLETE PONZI SCHEME AND IT WILL GO BANKRUPT. THE MARKET IS TELLING US BK.
Anonymous:I would still care about an increase in the marginal tax rate. Is that not right?
Yes. Return of capital is taxed like depreciation recapture in real estate...at individual tax rates, not capital gains.
One thing no one talks about is that the operating losses reported on K1(if any) are not reportable until position is totally sold, since MLPs are a passive investment. So, when sell, do the whole position and suppressed losses will offset the recapture to some extent.
Note: operating income, if any, is taxed when reported on the K1.
Dave
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