Crosstex (XTXI) drops to 82 this morning at the open...i decide to get cute and buy 300 shares before the open on the stock split news...just a small position...and got my head handed to me. Stock is around 85 right now. I will be adding to shares as this sell-off continues. Sometimes i never learn!
Meanwhile its down after 1 hour and 20 minutes of trading...AMZ MLP index down 1.20 and there are sizeable fractional losses. Oneok got a boost from Howard Wiel to buy but the stock is down anyway. Hardly a winner to be found as the XOI is down nearly 30 points or 3% which is taking anything energy down with it.
I am trying to decide what to buy. LINN and XTEX i guess.
ReplyDeletecrosstex has the longer track record and the cheiftan buy will allow them to grow distributions. LINN has done okay since its ipo...why not buy both?
ReplyDeleteI didn't pull the trigger yet on XTEX or LINN. Should have as Nat gas and oil look to have stabilized. I am just worried about going too far into margin. I wish there were options so I could sell puts on them. The other thing out there is CPI on Friday; bonds have had a great run over the summer and could really drop if the Fed isn't done.
ReplyDeleteOne other thing ... I find it interesting that the market doesn't seem to be attaching value to the better LP/GP splits of names like XTEX and LINE. Their lower cost of capital should make aquisitions easier in the later years. Opportunity knocks I think (talking my book of course!).
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