IS IT BREAKOUT OR FAKEOUT?
The Linn Energy(LINE) chart below. It looks like a breakout but lets wait for the close to tell us more.
Mlps displaying a firm tone today with the index up over a point while the market tugs back and forth. No downside followthrough today at least so far. A number of fractional gains in the group in most of the recognizable names.
I would like to CEP make a move one of these days...
ReplyDeleteit will...eventually. It's definitly undervalued at this price. One is well paid to wait at its current yield.
ReplyDeleteIt's 11% of my port. See yahoo finance post discussions on CEP.
Reading-Tee-Leaves
EVEP acquires oil properties in TX; not sure what impact this will have on distributions.
ReplyDeletehttp://biz.yahoo.com/bw/080414/20080414006510.html?.v=1
CEP's problem is that it has already told us that there will be no distribution increase again this quarter. Until this changes i think it will underperform the rest of the group. It may not go down much from here but i would expect it to lag the others on a rally.
ReplyDeletei am also long cep
line is selling marcellus acreage to xto for 600 or about $5/ unit
ReplyDelete