An across the board rally today. The mlp index is up 11 points to 187 as the dow is up 200 and approaching 9000. Every mlp and gp is up except for Crosstex (XTXI) which is down 20 cents but it had a big gain Wednesday.
Nustar (NS) Plains All American (PAA) Oneok (OKS) Sunoco Logistics (SXL) Natural Resource (NRP) Teekay (TOO) Enbridge Energy Partners (EEP)and Buckeye (BPL) all up 2 points or more. 1 to 2 point gains in Boardwalk (BWP) Magellan (MMP) Energy Transfer (ETP), Teppco (TPP) Kinder Morgan (KMP) Alliance Resource (ARLP) Inergy Holdings (NRGP) Exterran (EXLP) and a number of others.
As Bruce says the rally is probably suspect but its better than the other way. And if this is the beginning of a big market contra trend move then we have a ways to go before we get to a short term top. Remember its only the 1st day of 2009 and we have to wait until the middle of next week to get a feel for how much firepower this rally has.
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- joewxman
- a meteorologist with a knack for trading and investing in MLPS! I also like horse racing, enjoy cigars and a good port wine.
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2 comments:
Hmmm, could it be that it's occured to Mr. Market that MLPs with yields ranging from 10 to 20% (and even higher in some cases) are preferable to T-Bills yielding ZILCH?! If there is a lesson here, and I think there is, it's that there are bubbles (Treasuries) and there are counter-bubbles (MLPs).
Lee
P.S. Bruce, hang on.
P.P.S. Where is everybody?
Now many of us have been making that case for awhile now. Hopefully the market is now listening and that we are at the beginning of something.
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