All mlps are down with oil down 3 bucks and nat gas down 12 cents. The dow is down 170. The mlp index is down over 6 points and no mlps are up right now.
Goldman cut Plains All American (PAA) to a sell and the stock has been cut by 2 dollars. Sunoco Logistics (SXL) Markwest (MWE) and Atlas Energy Resources (ATN) are also down nearly 2 dollars each. Inergy Holdings (NRGP) Alliance Resource (ARLP) EV Partners (EVEP) and Oneok LP (OKS) are all down 1 point or more.
Doesn't look pretty for this afternoon. 210.52 is the 89 moving average level to watch now.
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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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1 comment:
I was out of town last week so this is a belated post. I agree, Joe, that nat gas is oversold and most, if not all, the naysayers are out. With few sellers left, it should begin its assent soon. Of course, the downside to any asset is always 100%, so look both ways before crossing the road.
On an unrelated matter, there are a lot of central bankers worldwide interested in keeping the dollar propped up at any cost which in turn is artifically blowing commodity prices all to hell. It's getting frustrating. It's like playing baseball with someone who keeps moving home plate everytime you round third...
Lee
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