ENERGY TRANSFER PARTNERS DOES (ANOTHER)STOCK OFFERING

While Energy Transfer Partners (ETP) has been recovering with other big mlps it has lagged behind the others and stock offerings could be the reason. As announced last night another 7.5 million shares have it the tape and the stock is down over 1 in the premarket. Needless to say there is some anger on the Yahoo ETP message board but i did find this thread posted by "Factoid" who in the past has been a wealth of information. Someone asked the question about mlp sell metrics in relation to MLPS. Follow the thread with his reasoning. It is quite helpful in understanding the situation at ETP.

I've been using strength here to reposition as the run in MLPS continues to just roll along and 300 is at our door step. Honestly did you think a year ago we would be this high and seeing many mlps at or near all time highs? Frankly i certainly did not think it would be this robust. But it is what it is folks and I suppose if the market continues to have a tailwind, the index could make a run to all time highs around 340. But i tend to think that a pullback here and a sharp one is increasing in probability. I just dont know when.

No other headlines this morning and no upgrades or downgrades so far this morning. Markets look flat at the open but the day is young.