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Friday, December 09, 2005

Teppco doing its implosion which now matches its May 2004 low. Hopefully this is the final blowout.

2 comments:

PRINTEAM BLOG said...

Joe,
Wheels coming off TPP! Looks like a big 50,000 share buy and some other smaller ones. Chart looks like the stock fell off a cliff. BTW, you probably saw I left a message for "coalhandluke2" re:his "S&P upgrade" for TPP which turned out to be non-existent, so far. He never replied.
I think he was trying to pump.

joewxman said...

On tuesday S&P did upgrade Holly Energy Partners based on valuation

LP Units Of Holly Energy Partners (HEP ): Ups to 3 STARS (hold) from 2 STARS (sell)
Analyst: Royal Shepard


Our upgrade is based on valuation, as Holly Energy Partners's units have declined 8% in price since mid-November, when its largest customer Holly Corp. announced a temporary production cut during a repair at its Navajo refinery. The LP confirms that the facility is back on line and we expect only a minor impact on fourth quarter results. We have lowered our 2005 earnings per unit estimate by 2 cents to $1.72, but are keeping 2006's at $2.00. Our 12-month target price is unchanged at $39.

Found that on the HEP yahoo board. As per TPP it is down at its MAY 04 low on the chart...and that low on one day was down in the 34's. Looks climactic here but then again i though 37 was the floor.