BREAKOUT OR FAKEOUT?
The dow chart is marching upward, so have mlps but i'm waiting for the index to clear this 250 level. We've had 2 back to back intra day reversals with a lower open and a higher close so my best guess would be that the next significant move will be up and back to the 270 level. Of course all of this comes together with a fed meeting and the approaching end of quarter. So there are lots of currents and cross currents at work here. Still a higher open is at hand this morning with stock futures nicely higher pre open.
Enterprise Products Partners (EPD) will be a 1 point drag at the open as it trades in the pre market. Teppco will be down also as it is linked in its merger. Enterprise is doing a public offering of over 7 million shares. Also in the news this morning Magellan (MMP) is folding Magellan Holdings (MGG) back into Magellan Midstream (MMP) and that process could end this week.
Crude oil is up this morning and back over 70 dollars. Nat gas is higher as well. The dollar is weaker. So we wait for the open.
joseph cioffi's Source Page - Associated Content
5 comments:
Joe. In that the EPD offering for TPP of 1.24 shares of EPD per 1 share of TPP was made before this latest EPD offering, seems to me that the offering should now be invalidated by the obvious dilution of the value of the EPD shares. Is there a regulatory agency a TPP share holder can file a complaint with?
Thanks,
JCarroll
the same thought occured to me about this. My guess is its in fine print somewhere but they should have closed the deal before doing this. At least that would be the perspective of the teppco share holder
Does anyone know why James Ferrell, of FerrellGas Partners, resigned as CEO after all those years.
Are there any problems there that would cause a shareholder some concern. JohnG
Guy has been running the company for 40 years...i guess he is just retiring. i havent found anything on the news sites or gossip sites to suggest anything else. but i will keep looking.
Does anyone know why James Ferrell, of FerrellGas Partners, resigned as CEO after all those years.
Are there any problems there that would cause a shareholder some concern. JohnG
9/22/2009 3:27 PM
joewxman said...
Guy has been running the company for 40 years...i guess he is just retiring. i havent found anything on the news sites or gossip sites to suggest anything else. but i will keep looking.
9/23/2009 9:21 AM
THANKS for the info on Ferrell
JohnG
Post a Comment