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Monday, May 09, 2011


Upticks are on the board this morning as we await the open. Commodities are getting a bounce this morning with oil up 2 dollar plus, nat gas is up, and stock futures are a little higher. MLPS had a nice 7 point plus rally Friday and actually finished near the highs of the day while the rest of the market came well off the highs by days end.
Last week's sell off took us down to 360 for the third time this year. The drop last week had quite a bit of momentum behind it and we will be looking to see if the Friday bounce was just that or we are going to go back up to the highs near 390. What we don't want to see today is a down close as that will probably mean the sell off isn't done yet.

Transmontaigne (TLP) announces earnings this morning with conference call to follow. Numbers look in line and the stock has been a solid performer. One other news item this morning comes with Regency Partners where Baird is starting the stock at an outperform and a 31 dollar target.

Lots of fun for me today as i have jury duty on top of dealing with a major league allergy attack. Guilty as send me home please?

1 comment:

Max said...

This, from a Morningstar site I follow:

If MLPs were to become taxpayers at the entity level, rather than having their incomes taxed only when allocated to individual partners, there would be no way to spin it as anything but a bad thing. Depending on how such a development would be structured, it could take a big bite out of the cash flow from which our partner distributions are paid. This is one of the risks of investing in what is otherwise an unusually stable set of income-producing securities. However, the odds of this proposal turning into actual law anytime soon strike me as practically nil. The details are vague because it may not be much more than bureaucratic chatter, but one of the more interesting points is that it would hit all pass-through entities of any size--not just MLPs but hedge funds, private equity funds, corporate joint ventures, medical practices, law firms, even law firms that specialize in lobbying Congress!