BREAKING OUT ABOVE KEY RESISTENCE!
Yesterday's three percent moves continues to build the outperformance spread between mlps and the rest of the market. So now we are up not only up 14% since the beginning of the year but we are moving above the 89 day moving average for the first time since July.
Clearly the improvement in rate land has helped issues here and also the realization that not all distributions will be cut...some won't and some will be raised. And that is attracting attention. Can you imagine the upside if these markets even begin to approach what has long been considered normal rate spreads of 3 or 4 points above treasuries? Someone posted yesterday that this is a good place to short. Well that's what makes a trade!
This morning we will see the reaction to the Hiland Partners (HLND) and Hiland Holdings (HPGP) distribution cuts which were 50% and 67% respectively. Remember there is a 9.50/3.20 offer on the table. We should hear shortly from Atlas Pipeline (APL) Crosstex (XTEX) Copano (CPNO) Markwest (MWE) and some others on the distribtuion issue. No headlines this morning so far and no upgrades or downgrades. Some of these companies have been breaking news during the day so we will be watching carefully. Crude is down this morning and nat gas is up.
joseph cioffi's Source Page - Associated Content
7 comments:
Happy Big Five O, Joe! And remember, there's life after 50. I've got seven years in the rear view mirror to prove it.
While I'm at it, thank you for your tireless efforts in keeping us all so well informed about MLPs. This is the first site I read in the morning and the last one I read at the close of trading each day! I've avoided a few costly mistakes because of it.
Lee
Thanks for the birthday wishes Lee. I have always liked birthdays..never was hung up on the age thing..don't like b'day parties however for some strange reason that probably requires years of therapy to unravel!
And thanks for being here and posting here! Makes the blog a better place!
Happy Birthday, Joe!
I am 2.5 years ahead of you--although the last 18 months has aged me a bit more than that!
All The Best,
Bruce
The smart people have spoken! Happy birthday. May the next 50 be better than the first. Sincerely appreciate everything you do for this blog, the command and control center of the MLP space. May the outperformance continue! MWE is currently out of single digit land. Glory!
Joe. Another happy birthday wish from one who wishes he had discovered you and MLPs sooner. Made fortunate purchases of TPP and CPNO earlier this month (in addition to KMP and LINE purchased back in Oct 08), thanks at least in part to the running dialogs of this blog (that would be you) and the commenters (especially the regulars whom I have, in a way, come to know). By the way, I am 10 years your senior.
Thanks to you and your commenters,
JCarroll
Hi Joe:
Happy Birthday and thanks for the great work you do. It is not a thankless task, as you can see from those of us who follow the blog. Best Wishes!
steve
Me three. Although I am a loooooong-term MLP holder, I check here first thing each trading day and appreciate all the hard work very much!
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