MLP index down 9 points and traded as low as 211. Energy Transfer Partners (ETP) down 5 dollars at one point. Kinder Morgan (KMP) down 2 and change. Throwing them out the window at any price with the VIX index spiking to 42.
Rallying back now to minus 7 as the market is staging a serious attempt here to bottom. BTW it was 13 months ago on options expiration when the fed shocked everyone including all the short sellers by doing an emergency rate cut 2 days after the meeting and destroyed many short sellers. Tomorrow is options expiration. Maybe a co-ordinated world wide central bank rate cut?
CPLP down 30% on high volume. NGLS, MWE, down big and all GP's down big. I'm getting ready to give up here.
ReplyDeleteStrong anti-naked shorting rules +
ReplyDeleteinstitutions pulling shares available for shorting... should cause monster rally.
HS
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Pension funds halt lending of Morgan Stanley, Goldman shares
By Wallace Witkowski
Last update: 2:09 p.m. EDT Sept. 18, 2008
SAN FRANCSICO (MarketWatch) -- Pension fund managers Calpers and Calstrs said Thursday that it has temporarily halting lending of Morgan Stanley (MS:morgan stanley com new
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2:16pm 09/18/2008
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MS 17.74, -4.01, -18.4%) and Goldman Sachs Group Inc. (GS:Goldman Sachs Group, Inc
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GS 105.45, -9.05, -7.9%) shares. A Calpers spokeswoman said that its securities lending program remains "very active," and that the temporary halt stems from the huge volatility in Morgan Stanley and Goldman Sachs shares. Once market volatility abates, the shares will be lent again, the spokeswoman said