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Monday, May 16, 2011

MLPS are selling off now after being up this morning by over a point and change on the index. The overall market was down and made a rally attempts on the dow but the nasdaq never recovered and now it looks like sellers may take control this afternoon.

Atlas Pipeline (APL) is down 1.80 as the days biggest loser after Friday's big gains. Most mlps are down major fractions now. Nustar (NS) Markwest (MWE) Sunoco Logistics (SXL) and Holly Partners (HEP) are leading the way. Looks like 360 is not holding so eyes should next be focused on the 350 level.

1 comment:

flash said...

You were right again.

I hope we've washed it all out by now. We're very definitely taking our cue from oil. When oil dove in the afternoon, MLP's followed close behind.

Gave back about 12 months of gains :-(

It's too bad...most MLP businesses are going gangbusters right now.