MLPs doing very well today. The index is up over 5 points leading energy stocks higher. Inergy Holdings (NRGP) leads the way up over 2 points and off its high. Nustar put up good earnings numbers and was up over 3 dollars but has pulled back to up 1.50. Quicksilver (KGS), Buckeye (BPL) Sunoco Logistics (SXL) and Magellan (MMP) are all 1 point plus winners. Only 5 issues are down and only down pennies.
Heading for lunchtime. If the rally can gain a head of steam this afternoon...look out above! Btw i should point out that the mlp index is back over 200...last achieved early this month when the dow broke above 9000 briefly. Here we are 800 points lower on the dow and the mlp index is about to break out to a new 2009 high. Outperformance continues to gain mommentum.
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About Me
- joewxman
- a meteorologist with a knack for trading and investing in MLPS! I also like horse racing, enjoy cigars and a good port wine.
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7 comments:
MLP outperformance I feel is close to the end of the LINE.
You can only outperform so much given the current environment. Better off shorting then going long here.
There is an excellent article on Seeking Alpha about MLPs. Author is Cliff Wachtel. There are also a lot of comments, some better than others. Here is a link:
http://tinyurl.com/aj3kaq
JCarroll
Leonard, I don't think I'd be too quick to short MLPs at these levels. As the public regains just the tiniest appetite for risk, they'll abandon Treasuries like sailors hopping off ship at the start of a three day furlough and they’re likely to find MLPs looking pretty sexy. Even more so now with eye-popping yields and a resumption in cap gains to boot.
I'm not suggesting we are entirely out of the woods yet, but shorting these bad boys now could put you in a world of hurt. Alternatively, if you're convinced the MLP sector is ahead of itself, why not just hedge your bets with some puts?
Lee
How about we forget distribution cuts, shorting, and selling for a moment and send some props to our blog-meister who turns 50 today!
Actually i turn 50 tomorrow.
MLPsRGood4U
Not shorting yet just waiting for a much lower level to start buying again.
Joe:
Happy Bday!
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