The race down to 350 continues with the MLP index now down nearly 4 and at the lows of the day. EV Partners (EVEP) is down 3 dollars as the days biggest loser. Nustar (NS) is down 1 and about to break under 60. Atlas Pipeline (APL) is down 1.22, and Alliance Resource Partners (ARLP) is down nearly 2 points. Kinder Morgan (KMP) is losing just under 1 point.
Dow down 130 and also at the lows of the day. Crude and nat gas are lower as we head into midday.
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About Me
- joewxman
- a meteorologist with a knack for trading and investing in MLPS! I also like horse racing, enjoy cigars and a good port wine.
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4 comments:
Love your stuff. I am a bit more positive than you but have to be realistic., My MLP portfolio is up + 87% on capital gains only in the past two years. Most of my holdings except NRGY have had ok quarters. How much more downside before yo uexpect to see a bid appear?? Thanks
i was hoping 350 would hold but it appears that we may have to take a trip down to 320 or so. As long as this tax issue is overhead i think all rallies from here in on in will be selling opportunuities.
The other factor is whether mlps are beginning to telegraph a large rise in interest rates? The long bond apparently hasn't heard that call lately.
I think even with QE2 qbout to expire, the Fed will be hardpressed to see rates rise further. There are other arrows in their quiver that can be utilized. Bernanke will be very cautious to increase rates as we are beginning ot show signs of a bit of economic weakness. While yes, it as an a-political position there is plenty of jawboning between the White House and the Fed. cheers..
The senate vote that just took placeis paramount to the sector
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