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Wednesday, March 09, 2011

There is something in Breitburn (BBEP) earnings that the market doesn't like and the stock is down 1. 75 to 20. Meanwhile Cheniere (CQP) is re couping some of yesterday's devestation. CQP and LNG are both up about 1.60 but LNG has the larger percentage gaing. Alliance Resource (ARLP) and Alliance Holdings (AHGP) are down also 1 point plus. MLPS as a hold down 1.30 in the early going as markets tug back and forth. The dow is down 40 points right now. Crude inventory numbers are due out at 10:30am.

Back to the Cheniere issue. The stock was knocked down by a hedge fund letter claiming accounting issues. Would love to know if Centerbridge (the hedge fund in question) was short the stock. They did hold notes on the Sabine Pass unit. And it was Cheniere that brought attention to all this by filing the lawsuit. Here is a short news item from the Wall Street Journal.

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