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Thursday, November 20, 2008

Poll results show 13% of you stockpiling guns and food! Glory!

Cramer tonight said except for Kinder stay away from MLPS. Knocked Atlas Pipeline, Williams, and DCP Midstream as likely distribution cuts if oil stays below 70 dollars next year. Given market conditions i can't argue. If these were normal times Cramers ding would be views by some as a buy signal...but these are not normal times. Video at the link above.

Futures are up a bit right now but that really doesn't mean much. We're probably setting up for another one of those fabulous jaw dropping 1 or 2 day rallies which could come at anytime. But that would just provide another selling opportunity on a trip to a 6 handle on the dow..or maybe even a 5 handle. The market is pricing in a depression. MLPS are being priced to go out of business.

1 comment:

Unknown said...

Cramer slaps a sell on APL when it's $7.67 a share ( off about $38.00 from it's annual high)?

A sell on DPM at $6.23 a share( off about $40.00 from it's annual high)?

He thinks that these MLPs might cut their distros ( currently at a 40 to 50% annual yield)?

Prior to this fall's swoon, APL hadn't been under $30.00 a share since Aug of 2003 when it's distro was $2.72 a share ( Yielding around 9%).

The real question is if APL cuts their distribution to X ( put any number you care too here for X) will they survive and what would be fair value per share?