The MLP index is down about 20 ticks in the face of an up market. Tape has a heavy feel to it as selling appears in certain stocks and it comes for no reason. I am really starting to think we've been seen a sort of orderly unwinding of positions by somebody out there. And they seem to take it one company at a time. Oneok (OKS) leads the losers list down about 1 point. Hiland (HLND) Hiland Holdings (HPGP) Teppco (TPP) and Williams (WPZ) are down major fractions.
Winners include Calumet (CLMT) up 1 and change. Penn Virginia Holdings (PVG) and Crosstex (XTXI) are up major fractions.
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- 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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1 comment:
I agree with the unwinding and there are some seemingly strange transactionss with MWE. The avg volume is 133,000 shrs, friday its vol was 1.7 M shrs traded. Price was down only $.40. the only conclusion I can draw is that some were buying while others were unwinding??
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