adbrite ads

Your Ad Here
Your Ad Here




Tuesday, May 17, 2011


It doesn't take much but in just a few short weeks we've gone from 390 on the mlp index to a shade under 357 and that puts us at the lows for 2011. The selloff of course began with the taxation threat news and except for bounces (which should have been sold into) the drop continues. Oddly the drop is coming as interest rates continue to slowly drop to the lows of the year so one could surmise that the market may be signalling some sort of economic dip is on the horizon. Still mlps did not exactly sell off when rates rose from last October to January as one might have expected. So i really don't want to read too much into this for the broader market outlook. But one finds it hard to ignore all the selling in commodities lately and the rising dollar as a sign that things in the economy for the second half of the year don't look all too hot.

Markets are now open and the first ticks for mlps are down. The index is down nearly 2 points and that trip down to 350 looks doable today if selling gets a little more serious. Crude is down and nat gas is down as well this morning.

1 comment:

Unknown said...

Hi Joe: I've had 6 LARGE positions in MLPs since the middle of 2009. I sold off all of them after the talk of tax change started to appear about 1-1/2 weeks ago. Unfortunately, Cramer's reassurance got me back in for about 1/4 of the original amount. I discovered your site/comments about the same time and now read you daily. You're good. Keep up the good work. Harry.