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Thursday, July 17, 2008

One thing i've learned over the years is that just when you think it can't and never will again...it does! Natural Gas is getting absolutely hammered today down nearly 6% and with a 10 handle. Coal is down about 5% and crude oil is now following. Coal and natural resource mlps are being taken out to the woodshed. Dorchester Minerals (DMLP) is down 2 and change. 1 point plus minus signs on Atlas Resource (ATN) Alliance Resource Partners (ARLP) Penn Virginia Group Holdings (PVG). Fractional minus signs on Atlas Pipeline (APL) Natural Resource (NRP) Alliance Holdings (AHGP), Linn Energy (LINE) and Constellation Energy Partners (CEP).

The MLP index is up 1 and change being led by Kinder Morgan Partners (KMP) which is up 1 and change. Hiland (HLND) also up 1. Fractional gains in Copano (CPNO) Oneok (OKS) and Holly Partners (HEP) among others.

Speaking of being taken out of the woodshed Semgroup Partners (SGLP) is off its intraday low of 14.11 but it is still down 6 plus points on 2 million plus shares and a company who has not said a single word about this. Nor are there any breaking headlines. Is it another short raid on rumors?

9 comments:

Anonymous said...

Dow +450 in 2 days and MLP's have done absolutely f*cking nothing.

Anonymous said...

PAA new 52 week low.

Good thing the market is up again today or the MLPs would be in some real trouble.

Anonymous said...

PAA sh*tting the bed now. Every damn day its something. This is the worst damn market I have seen since 2000-2001. Nothing is going right.

Anonymous said...

We are stuck in a broken asset class. Nobody wants these pieces of dung. Yields are through the roof. Earnings storming higher. Distributions increasing.

Problem is you lose 2-3% every day in principal while you clip the yield and celebrate the earnings growth.

There are no buyers for these things.

PAA -6% now

We just continue to take it in the ass...

Anonymous said...

You have to love the E&P's. Oil and gas rally to all time highs and they all trade to record lows. Oil and gas come off and they completely implode.

Wonderful!

Anonymous said...

SGLP spilling over into PAA...

Anonymous said...

Did anyone on planet Earth bother to read the KMP earnings release last night?

Things are not that bad in MLP land. It feels grim and I have gotten shellacked, but there is a massive disconect between KMP and the price action today.

Anonymous said...

"Things are not that bad in MLP land. It feels grim and I have gotten shellacked, but there is a massive disconect between KMP and the price action today."

" Yields are through the roof. Earnings storming higher. Distributions increasing."

MGG just announced a 5% dist. increase over last quarter. The share price is down.

To me this means BUY! Which I did by adding to my MGG postion today.

Frankly, the current nutty market should be viewed as a golden opportunity for long-term investors.

Bruce Sherman
Oakland, Oregon

Anonymous said...

Frankly, the current nutty market should be viewed as a golden opportunity for long-term investors.

Bruce-I agree, but I starting buying a few weeks ago and it has been brutal.