AT LEAST
WE HAVE OUTPERFORMANCE
WE HAVE OUTPERFORMANCE
We have that one thing to hang our hats on. MLPS continue to hold well above the October November lows while the rest of the market seems to be heading back into that hole. And you would certainly have been (slightly) better off if you were in MLPS verses the S&P.
This morning we are facing the floor again about to break through the floorboards. GE earnings were in line but so far no inspiration. It is Friday which always brings with it some weekend positioning one way or the other. No mlp news this morning which means next week is going to be big on the distribution announcement front. Some questions will be answered for issues like Atlas Pipeline, Markwest, Crosstex, Hiland and some others about how much will they cut.
Energy complex a little lower this morning as we spend time in this bottoming area. No upgrades or downgrades so far.
joseph cioffi's Source Page - Associated Content
4 comments:
0 comments! what gives? where are all the smart people? where are the whiners? anyway, i like the charts. the 2nd chart shows 3 outperform days in row. here's hoping for 4. mrfairway
looks like its happening so far!
HI Joel;
I find your blog very interesting. I've been about 75% in MLPs since the late 90's. Lately I've been accumulating AHD betting no more that a 65% cut in the dividend. (of course at under $3 / share, it's not a large bet, but one that could pay of huge down the road) I'm also an investor in a huge natural gas drilling operation in Indiana and our land-lease interests were bought out about 6 months ago by ATN )Atlas Energy Resources) most of us retained a portion of our working interest in about 100 wells to be drilled in our tract of land. This leaves us as active investors along with ATN in the wells. so far, the first 5 have hit huge amounts of gas and Stlas is coming in well under the budget. The are also the lowest cost and most effeicient E&P outfit in the Antrim shale in Michigan and have been for years. Their success rate in shale plays is 99% They recently raised $200 million from private investors for 2009 drilling (without needing to tap the capital markets) Based on the fairly deep pockets they have, and the fact that APL is well hedged on nat gas prices (but not so on LNG which they have taken a bath on) I'm guessing the reduction will not be a disaster.....
your thoughts...??
I think the unit prices have priced in a huge distribution cut or maybe no payout. So if your right..yes i agree there could be some big gains and they can come in a hurry.
joe (no L in joe)
Post a Comment