Monday, September 01, 2008

Hi...hope everyone is enjoying Labor day by not laboring. Just want to pass this along. As of 12 noon in electronic trading Oil is down nearly 5 dollars to 110 and change, gasoline down 12 cents to 2.73 and nat gas is down 43 cents or nealry 6%.

Setting up for a fun tueday.
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2 comments:

  1. Anonymous9/01/2008 3:57 PM

    Joel:
    If we want MLP's to go up in value, would we like to see the price of crude and nat gas go higher or lower?

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  2. joewxman9/01/2008 7:28 PM

    i think its going to be more important that credit spreads narrow rather than the actual movement in the price of crude/nat gas. That will probably be the bigger driver.

    That said...big moves in energy drive energy stocks and if they sell off big energy in a big way..it could drag us down with it. But in the last 2 weeks mlps have outperformed big energy on both up and down days. So i go back to credit spreads as being issue number 1.

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