MASTER LIMITED PARTNERSHIPS

Tuesday, September 16, 2008

DING DING DING DING DING DING DING DING DING DING DING DING!

Calumet Speciality Products (CLMT) becomes the first mlp to turn higher today.

Congratulations.!

19 comments:

Anonymous said...: EPD 1.4mil shares so far today.; 9/16/2008 12:36 PM
Anonymous said...: NGLS -13.50% TODAY!

Yielding 12.25%

Does this price really reflect reality?; 9/16/2008 12:42 PM
Anonymous said...: NGLS 1,400,000 shares traded...

Hopefully the sellers flush themselves out with a few of these large blocks crossing today...; 9/16/2008 12:43 PM
Anonymous said...: MMLP has a near 15% yield now.; 9/16/2008 12:44 PM
Anonymous said...: NGLS falling apart here-any news or just the usual forced sellers?; 9/16/2008 12:48 PM
Anonymous said...: Where the f*ck is the support on these things? 12%, 15%, 20%, 25%???

This is just a tsunami of selling.; 9/16/2008 12:51 PM
Anonymous said...: NGLS -15.50% now

WHAT THE F*CK?; 9/16/2008 12:52 PM
Anonymous said...: Markets just are not functioning right now. Its as simple as that. We just have no sheriff watching over things, so its become a free-for-all.

The SEC has completely lost control.; 9/16/2008 12:54 PM
Anonymous said...: NGLS -17%

ANY NEWS? ANYONE OUT THERE?

this is a disaster; 9/16/2008 12:54 PM
Anonymous said...: well i guess all the MLPs will just go to zero and we'll be put out of misery.; 9/16/2008 12:57 PM
Anonymous said...: Is there a law stating that MGG must drop by at least 5% a day?; 9/16/2008 12:59 PM
Anonymous said...: We are in a bear market. Every time we get a rally, we think that it may turn around.
Most real bear markets have atleast
90%of stocks down. There has to be much more pessimism and as happened in 1987 we need a huge one day drop(22% in 1987, October)with heavy vol and the market feeling the world is ending.
I'm afraid until that happens and we have a reversal whick no one believes, that we continue down.
The market curbs were put in after 1987; will it make a difference.
I hope I'm wrong, but time will tell.
I still am fully invested in this space and think it will be fine long term,but no idea where/when we hit bottom.
VIX and sentiment not yet typical of a bottom.
This is a prime example of the difficulty of buying low!!
Buy low,
Vonhayekschumpeter; 9/16/2008 1:01 PM
Anonymous said...: Where is everybody today? Joe, Bruce, Mr. Pipes, Mike from NM, MLPSRGOOD4U??? Cmon guys we need some soothing words.; 9/16/2008 1:35 PM
Anonymous said...: Greenberg-Led AIG Investors Consider Taking Control (Update1)

By Hugh Son

Sept. 16 (Bloomberg) -- American International Group Inc. investors led by former Chief Executive Officer Maurice ``Hank'' Greenberg may consider taking control of the insurer through a proxy fight or buyout.

The investors also are considering acquiring New York-based AIG's subsidiaries or making loans to the company. They disclosed their options today in a regulatory filing.

Greenberg may be seeking to rescue the insurer that is struggling to raise cash amid losses tied to U.S. mortgages and credit downgrades. Greenberg, who was ousted in 2005 amid a regulatory probe into accounting, controls about 11 percent of the company through personal holdings and companies he heads. The stake has plunged in value as AIG stock declined more than 90 percent this year.

Greenberg's group is reviewing its options ``in light of current circumstances relating to'' AIG, the filing said.; 9/16/2008 1:38 PM
Anonymous said...: If you look at AIG, It's clear that any stock that needs capital (especially equity capital) will be shorted to the point that existing shareholders will be crushed.

This is probably part of the problem with the MLP universe.

For MLPS to go up is to announce that any capital project will be suspended until credit markets improve.; 9/16/2008 1:41 PM
Anonymous said...: MWE at 25.00 is just stupid.; 9/16/2008 1:42 PM
Anonymous said...: For MLPS to go up is to announce that any capital project will be suspended until credit markets improve.

I agree, but MLPs still generate enormous cashflow and can fund organic "bolt on" projects without hurtng the distribution. Initiating large scale projects now is foolish in my opinion. If natgas/crude drillers need takeaway capacity let them finance it. Issuing equity down here is just reckless and harmful to existing unitholders.; 9/16/2008 1:45 PM
Anonymous said...: Given that the strong fundamentals have not changed, I continue to buy. Today I added to my ETE and MWE positions. I can't say that they won't get cheaper, but over the long-haul, I can't think of a better buy in today's nutty market.

Bruce; 9/16/2008 1:49 PM
Anonymous said...: I don't see any compelling reason why MLPs would be singled out for their exposure to the credit markets. Wouldn't just about any growing business need access to credit?

Not sure I have any soothing words...I will say that I refuse to punish myself by looking at large, red negative numbers all day long. This must be forced selling by somebody who got waaay too leveraged somewhere else. I am fortunate because I am not in that position and do NOT have to sell today. My planned selling date is many, many years in the future, so the price of my portfolio at this exact point in time is of little interest to me. What IS of ongoing interest to me is steady, growing distributions and I see no reason to believe that is going to change anytime soon.

Torture yourself if you want by clicking your portfolio refresh button every 5 minutes. I have better things to do.

mike in NM; 9/16/2008 1:58 PM