Its all up today with the dow up nearly 300 points right now on terrific breath and decent volume. The mlp index is up nearly 5 points as we get close to 200. The dow is back over 8000.
1 point plus gains in Oneok (OKS) Nustar (NS) Sunoco Logistics (SXL) T.C. Pipelines (TCLP) Energy Transfer Partners (ETP) and EV Partners (EVEP). A number of MLPS are trading at 6 month highs and approaching some chart breakout points. TC Pipelines and DCP Midstream are 2 of those. Sunoco Logistics is approaching a 52 week high.
Only 2 issues are down right now and that only pennies; probably from lack of interest more than anything else.
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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:
Joe. What's with NRGY and NRGP? They are down, while everything else is up.
Thanks,
JCarroll
not sure if its anything other than noise. No news...no volume. Sometimes they play catch up and they have been among the better performers so far this year.
Just a disgusting performance from the MLP sector the last few days (weeks). Massive strength across the board and MLP's can only manage sidewyas action.
And what's worse is the fact that while the major averages gave up a 25% of their gain on the close, the AMZ lost 1/2 of its gain. My own portfolio gain was 4% at the high today, but closed up less than 2%. Most of the issues closed much closer to their lows than their highs. I agree. Disgusting.
You'd think that mark-to-market easing would help the MLPs by virtue of the fact that banks would have an easier time lending to them.
steve
Re: NRGY. It's worth noting that the high today was $22.30, the recent offering price. What does that mean? Supply already?
i think you guys are reading a little too much into the action lately. Of course i may be wrong but i think as markets normalize we're seeing players getting into stuff that is relatively liquid. I'm not overally concerned.Very few mlps were down today. Kinder Morgan and Enterprise were barely up which might account for the mlp index being up just a little over 2 points. there still could be some end of quarter nonsense going on.
You may very well be right, Joe, and I take comfort from your comments. There is a great deal of skepticism in the market as revealed by late day selloffs. Clearly lots of people don't want to be long even overnight. That is a healthier state for us than the opposite, which is very dangerous.
steve
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