E.V. PARTNERS OFFERS SHARES
Its not a big offering. Just a couple of million shares but E.V Partners is going to the well again which is a smart thing to do as their unit price has done well lately so why not take advantage and raise money. It looks like it will take a dollar or so off the price this morning once trading starts. Nothing so far in the pre market.
Nat gas has suddenly come alive as the futures price approaches $4.00 from the depressing 2.50 a few weeks ago. I continue to notice relative strength moving into gas related mlps and gas related stocks in general. I have moved out of UNG now that it came back to about where i paid for it and shifted into some nat gas plays like Penn Virginia(PVA) and Exterran Holdings (EXH). We'll see how this works out but for now i'm riding the wave.
MLPS finished down a couple of points yesterday as we continue to hover just below the 250 resistence. Still no sign of a top but the longer we stay below 250 may lead us to conclude that it might be the top of the new range.
Nothing on the upgrade downgrade list so far this morning. Crude is bouncing a little after dropping nearly 6 bucks in 2 days. Stock futures are a little higher. End of quarter approaches so my guess is we could see one of those one day big rallies in response as anyone who is short covers. On the other hand for mlps all the weird trading around options expiration last week suggests that most of the end of quarter stuff has already occured.
2 comments:
The MMP/MGG simplification is supposed to happen today. This will probably be the last trading day for MGG.
MGG will be absorbed by MMP. MGG stops trading today.
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