ANOTHER RALLY ATTEMPT!
An up open this morning but who knows if it will hold. Markets look defensive as evidenced yesterday with rally attempts being met with sellers and then the last half hour debacle that carried us down over 100 on the dow. MLPS did us a favor by giving up the ghost early thanks to the absolute throw them out the window pessimism that is all over the energy stocks thanks to BP and the gulf mess. So at least some plus signs at the open and then we'll see where we go. MLPS are above the trading lows so there is still some support if we can gain traction.
A few things of note today as Inergy Holdings (NRGP) which is the best performer of the last 15 months in the group is doing a 3-1 split. And Penn Virginia Holdings (PVG) is doing a public offering of 8 million shares. Its going to be down but for whatever reason they like to sell Penn Virginia Resource (PVR) when this happens. Not sure why since its the GP and not the LP doing the offering.
Okay we've opened higher by about a point on the MLP index so lets see where this goes today.
A few things of note today as Inergy Holdings (NRGP) which is the best performer of the last 15 months in the group is doing a 3-1 split. And Penn Virginia Holdings (PVG) is doing a public offering of 8 million shares. Its going to be down but for whatever reason they like to sell Penn Virginia Resource (PVR) when this happens. Not sure why since its the GP and not the LP doing the offering.
Okay we've opened higher by about a point on the MLP index so lets see where this goes today.
joseph cioffi's Source Page - Associated Content
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