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Wednesday, January 11, 2006

When Goldman speaks investors flock like lemmings....as shown with XTXI where for a few minutes it hung at 68.40 before blasting off to 73.99 and its still up 4 and change to 72. Its a breakout with some volume on the charts so up we go perhaps to 80ish? Crosstex the LP after opening higher initially has pulled back to below the flat line.

Buyers also stepping up to the plate with Martin Midstream where a 29.12 offering price for 3 million shares and an 8.38% yield suddenly became attractive. Actually one plus side to this offering is that it doubles the float out there for a stock that usually trades by appointment only and is very hard to get in and out of. So i guess with extra shares out there it has attracted those who have been shy.

Sold some of my Teppco at 38 this morning. Might buy back in on a pullback and picked up some Duke Midstream (DPM) at 25.75.

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