WORST CASE BAKED IN?
The employment numbers (or lack there of) were worst then forecast by consensus; as if the market didn't price this in the last 2 days. Futures behaving in a way that suggests a rally in here as they seem to want to resist going down further. I guess 1000 points in 2 days is enough.
MLPS just move with everything else and 200 on the index has held again so we should bounce if the market bounces. Some earnings numbers this morning. Hiland Partners and Hiland Holdings (HLND,HPGP) put up earnings which have a lot of one time gains in them. The company did say they have plenty of cash to take them through all of 2009 and won't have to touch their credit lines. That should be viewed positively in this enviornment. Both stocks have been cut by more than 60%. Crosstex (XTEX,XTXI) puts numbers up which we knew would not be pretty since the companies cut their payouts 2 weeks ago. Both stocks have a signal digit handle. DCP Midstream also announces earnings this morning as this stock has gone from 45 to 12.
Nothing on the upgrade downgrade list.
joseph cioffi's Source Page - Associated Content
3 comments:
At the risk of adding gloom to the gloom, I think most of us realize the actual unemployment rate is much higher than the 6.5% reported as several categories among the jobless are excluded from the stats. The same can be said for all government numbers (e.g. CPI, GDP, et al). Since the numbers are all fuzzy, I think the trick to figuring out just how deep in the Black Forest we really are is to use them as a point of relative comparision.
My post has nothing whatsoever to do with MLPs. Sorry. I'll shut up now.
Lee
Are the sellers of APL ever going to be done?
Joe,
You showed a "Point nad Figure" chart a few days ago which pointed northwards. What does that same chart show today? Can you also explain the chart please. Thanks.
DS
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