a blog dedicated to the discussion of MASTER LIMITED PARTNERSHIPS and the day to day news related to the group...along with perhaps a few other things...as long as the conversation is kept civil. Although i have no problem telling you what i am doing regarding my trades...PLEASE DON'T ASK ME WHAT YOU SHOULD DO REGARDING WHETHER TO BUY, SELL OR SHORT!!! i am not in the stock business.
Monday, September 08, 2008
MLP index about to go negative here. I have that feeling of doom!
Those opening trades almost always take place on the Pacific Exchange or the unlisted NASDAQ. There are people who buy on the open, probably at the behest of their broker. In thin markets, they pay a high price for doing so, but it costs us nothing and enriches the market makers. If it bothers you, sell on the open.
That thud you're hearing is a dead cat bouncing. It's amazing how euphoric the markets are at the spectacle of our government spending money it doesn't have. But, hey, a good printing press, lots of ink, and a creative imagination is all it takes to run the FED and the Treasury these days. As an 'entitled' species, we make sure our government is plum full of people who can feed our habits.
The good news is that in time we'll all have lots more money. The bad news is I think I saw a picture recently of Obama reading a copy of The Autobiography of Robert Mugabe.
Are you surprised? The MLPs have done nothing to engender confidence for the last year. Why assume they'll rally now?
ReplyDeleteThe country is fiscal wreck.
Who are these assh*les who buy the open?
ReplyDeletestock open now
WPZ 32.00 30.70
APL 32.82 31.50
ETP 43.58 42.35
BPL 43.04 41.90
What is the point of buying the open when every mlp rally fails?
Those opening trades almost always take place on the Pacific Exchange or the unlisted NASDAQ. There are people who buy on the open, probably at the behest of their broker. In thin markets, they pay a high price for doing so, but it costs us nothing and enriches the market makers. If it bothers you, sell on the open.
ReplyDeletesteve
That thud you're hearing is a dead cat bouncing. It's amazing how euphoric the markets are at the spectacle of our government spending money it doesn't have. But, hey, a good printing press, lots of ink, and a creative imagination is all it takes to run the FED and the Treasury these days. As an 'entitled' species, we make sure our government is plum full of people who can feed our habits.
ReplyDeleteThe good news is that in time we'll all have lots more money. The bad news is I think I saw a picture recently of Obama reading a copy of The Autobiography of Robert Mugabe.
Lee
No, I think that was Ms. Sarah reading Jimmy Swagart...or was it Tammy Faye? Nah. Couldn't be, could it?
ReplyDelete