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Friday, July 25, 2008

Weakening oil and natural gas prices keeping a lid on anything energy today except for coal mlps which are up nicely as coal is rallying today for some reason. The mlp index has been in a water torture decline from the days highs and is now just barely higher. Look at EV Partners (EVEP) which made a big distribution boost to 2.80 annual. The stock is now down on the day! Holly Partners (HEP) whose price pretty well discounted the end of oil and gas as we know it is actually up 1.50 and back to 32 but it has been decimated. They boosted their distribution this morning. Hiland (HLND) and Hiland Holdings (HPGP) are hiking payouts. The stocks are down of course.

So its really more of the same. Bear market. State of hopelessness. I would like to see some sort of basing action but there is just too much nervousness in here. Some of you have posted about naked shorting and the problems that brings. If Mr Cox at the SEC makes naked shorting illegal for all stocks...we'll know fairly quickly if mlps are victims of naked shorting.

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