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Master Limited PartnershipsA blog dedicated to the discussion of MASTER LIMITED PARTNERSHIPS. |
CPI, XOI, MLPS, and More?
Good Friday Morning!
The big economic number this morning is the CPI so we wait for 8:30am to see what 10 year rates will do.Meanwhile we have Philip Berleger on CNBC who is predicting a collapse in Oil prices and gasoline prices. Interesting persepective in describing the hedge funds that have sold puts to oil and gas companies that hedge their production...that they will now have to cover those puts by selling futures making for a downward spirial. I find it interesting how quickly sentiment has become so extremely bearish on energy. So lets see what the XOI index is telling us.
Looks to me like 1000 on the XOI is a key level that has to hold in my view. If that breaks then the stocks are telling you that the bull move of the last several years is over with. So how does it impact MLPS? Well one needs to remember that while traders will blindly sell (or not buy) all things energy when prices are dropping there is a point where MLPs will seperate and go their own way. Note the AMZ MLP index had diverged
MLPS are far more influenced by moves in the 10 year rate then moves in crude and natural gas and notice that MLPS have rallied back the last 2 days. We'll see how this plays out today.
Corporate developements this morning as Energy Transfer Partners is buying Transwestern Energy for 1.4 billion dollars in a deal that is immediately accretive.
We have a downgrade this morning from buy to hold from Natural Resource Partners (NRP) thanks to A G Edwards.
- Enjoy The View Since Its Better Than The Mlp Chart!
- Back To Work Monday!
- Oil Nearing 100 Dollars As Dollar Collapses And Stocks Implode!
- Boo!
- Be Still My Heart. Enbridge Partners Boosts Its Distribution!
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NOTE: Please click on the charts below to enlarge them if [read more]
NOTE: Please click on the charts below to enlarge them i [read more]
Hedge funds have made billions this year shorting the banks, [read more]
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