Not a pretty picture this morning in futures as they continue to weaken ahead of some important numbers this morning. S&P down 15 points. Still i like down opens better than up ones in the current enviornment. Crude Oil is down to 75 dollars off almost 3 bucks with gasoline @ 1.80 as we head to a 2 handle at the pump. Yesterday the market traded in a 700 point range and look for another potential wild day.
Amerigas is hosting an anal-ist day and is announcing 2009 guidance. I'm not sure what this means since i don't have anything to compare it to. And i'm not sure what it means given the market since the news could be good and the stock could go down or the opposite is possible.
Merrill Lynch is upgrading Capital Products Partners (CPLP) to a buy which should put a bid underneath this stock. Not much else going on this morning. So we wait 8:30 PPI and retail sales which potentially could be a negative number. Fasten your seatbelts for another day on the roller coaster.
joseph cioffi's Source Page - Associated Content
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HOUSTON--(BUSINESS WIRE)--October 15, 2008 --
Enterprise GP Holdings L.P., (NYSE:EPE) announced today that the board of directors of its general partner declared an increase in its quarterly cash distribution rate to partners to $0.455 per unit, or $1.82 per unit on an annualized basis. The cash distribution will be paid on November 13, 2008, to unitholders of record as of the close of business October 31, 2008. This distribution represents a 15.2 percent increase from $0.395 per unit declared with respect to the third quarter of 2007.
Enterprise will announce its earnings for the third quarter 2008 on Monday, November 10, 2008, before the New York Stock Exchange opens for trading.
Enterprise GP Holdings is one of the largest publicly traded GP partnerships. It owns the general partner and limited partner interests in Enterprise Products Partners L.P., TEPPCO Partners, L.P. and Energy Transfer Equity, L.P. For more information on Enterprise GP Holdings L.P., visit the partnership's website.
It's uglier every minute.
Dow -500. There is no f*cking bottom to this mess.
Trading here seems real slow.....
Just drifting down, We don't have the frenzied trading we had in the morning.
It looks like a no buyer market, but not huge selling here.
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