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Friday, May 06, 2011


After yesterday's nearly6 point loss on the index and a close at 363. We did see a trip down below 360 at one point yesterday before a bounce late in the day. The momentum down has been pretty intense and given that tax threat, the speed of the drop should not be a huge surprise.

We have opened up 2 points on the index as the overall market opens up over 100 points. Drivers this morning on individual issues include upgrades by Citigroup on Altas Pipeline Partners (APL) and Oneok (OKS). Citi is raising its target on Oneok to 97 bucks!. Wells Fargo ups Natural Resource Partners (NRP) and that stock is up over a buck this morning. Buckeye Partners (BPL) puts up earnings numbers and a distribution increase. The stock is up fractionally. And Crosstex (XTEX) is up on earnings as it beat by a nickle. And as i finish typing the mlp index is up 7 points and back over 370!

Employment numbers were very good so stocks are up and rates are up. Crude which crashed yesterday is down fractionally today but nat gas is up 1%. Yields are higher on the jobs number. Looks like we are going to undo yesterday's losses today and maybe a little bit more .

1 comment:

jcarroll1948 said...

Joe and others. There has been a lot of commentary about possible tax changes for MLPs; and, I suppose, that many are considering selling. Here is what appears to be an informative Seeking Alpha article on the implications of selling an MLP after a lengthy holding period:

Thoughts? Personally, I consider my MLP holdings to be income vehicles that I will never sell; my heirs can sell them upon my demise and avoid all the tax implications.