FRIDAY IN A SIDEWAYS WEEK
We didn't rally much earlier in the week when the market rose...and we didn't really fall much as the market sold off yesterday so we've gone nowhere in the broad index.
But of course that is not necessarily true with the stocks that will go unnamed as they made new lows or are near new lows or went down 12 days in a row (streak broken yesterday by that unmentionable as it was up....brace yourself...a nickle!).
No news and no upgrades or downgrades. Hedgefunds and others have been filing their 13g's so we know what they hold. What they will sell from here on in is the mystery question. Stock futures are weak and getting weaker. No news and no upgrades or downgrades.
I'm college shopping today with daughter #2. So blogging will be light today. I'll post a summary later today when i get back.
joseph cioffi's Source Page - Associated Content
5 comments:
Some of the selling in LINN, CEP and EROC may be related to the owners of locked up shares shorting against the box to protect the holdings they can't sell.
Obviously, but don't you think that -40% YTD (and its only Feb 15) has priced alot of that "news" in???
Anyone know why Atlas Energy (ATN) is getting hammered today?
I continue to believe that there are forced sellers out there. There is NO reason to sell oil and gas producers (E&P MLP's). The underlying commodities are going UP and alot of the production is sold forward. This is just technical selling. Problem is its like a tsunami, very dumb to stand in front of!
bought line a while ago at 23.52 after i read the morningstar report. thought i was getting a bargain. after the last few weeks drop i am looking to buy more. unless everything i read is wrong, this thing is a cash cow.
does anyone have any info that contradicts that thought?
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