Nothing short of a horror show out there....no not the congressional hearings on CEO pay...its the markets. The tragedy continues. 11900 just gave way. The MLP index is down in the 286 area. Selling is occuring with both hands. It feels hopeless.
They are hitting the last men standing today...AG stocks. When they've sold everything else they can sell...they then get around to selling shit.
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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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7 comments:
Here is what is worrying me....
If these stats are vital signs, what is the status of the patient (a stock porfolio)?
Gold - almost $1000
Silver - almost $21
Oil - $105
Nat Gas - almost $10
US Dollar - multi-year low
Job creation in the US - negative
Stocks down several days in a row, except maybe one
the patient is on life support with many hands on the electrical cord itching to pull the plug on the respirator.
i think high fuel prices have caused the end use customers to take on conservation programs and those programs will hit the bottom line of most if not all MLPS.
I have sold most of my MLPS in December, still holding some. Prices will fall futher i think. yields will continue to move up.
High fuel costs will put a drag on earnings going forward making the likely increase in share prices slim. with oil at 105 i think this landscape will be with us for some time to come.that's what i think.
If refineries are running at 95% utilization and volumes are the same year over year, how would higher fuel costs put a "drag on earnings" of MLP's? Isn't the pipeline business about volume not price of product?
I have been on several CC and what I am hearing, at least in the propane business is revenues are up, profits down, as customers are
using less product. As for gas Prices, they are way up and at some point conservation will kick in.
The market is a discounting mechanism. Maybe someone else can expane way mlps like nrgy are down to 28 from 38.
and the sector is getting creamed.
FGP just reported going revenues and lower earnings same as NRGY
The only negative factor I can come up with is the credit environment and it doesn't seem to be affecting some of these MLPs that are still reporting strong results. A case in point is XTEX that recently came in with excellent earnings.
It is true that some mlps will do well, but most are not. the credit issue is also a big part of the problem as many mpls need to tap credit markets to expand there network and grow their business.
it might be interesting to see the correlation between oil prices and the ^amz over the last 3 years
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