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Wednesday, May 04, 2011

11 points down on the mlp index and there are 1 to 2 point losses in just about every major mlp and every one in the group is down. That trip down to 350 is coming in a big hurry as investors flee the taxation threat. If this does not come to pass than it is probably a great buying opportunity but then again we all know what happened to the Canadian Royal Trusts a few years ago when the tax threat became a reality.

EV Partners (EVEP) and Alliance Resource (ARLP) are down 3 points. Williams (WPZ) Markwest (MWE) Atlas Energy LP (ATLS) and Oneok (OKS) are down 2 each. And there is a long list of mlps losing 1 to 2 points on the day.

The dow is down 100 points and energy stocks as a whole are selling off so there are lots of headwinds which indicate that a bounce from here is not in the cards.

1 comment:

bernie said...

I think this whole tax thing js a red herring.So long as senator wall st.{charles schumer } is in the seat of power he occupies and wall st heavily keeps on investing in partnerships,which they are,there is no way that loophole will be closed.I would bet that if there is tax reform the p/nership laws would be the last to change if at all.By the way,archarcharch in the derby