Its A Week Before Christmas (or Should I Say Holiday?) And On The Exchage Trading Floor....mlps Keep On Going...they Continue To Soar!

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A blog dedicated to the discussion of MASTER LIMITED PARTNERSHIPS.

Its A Week Before Christmas (or Should I Say Holiday?) And On The Exchage Trading Floor....mlps Keep On Going...they Continue To Soar!

Posted on 12/18/2006 05:37 AM | Link | Post Comment

Good Morning and Merry Christmas.

Its the last week of serious trading for the year so i'm not expecting too much to happen in the news department. Sometime this week we should hear from Energy Transfer (ETP,ETE) with regards to the quarterly distributions.They will go ex-dis around Dec 29th or in very early January based on past history. No headlines this morning but Wachovia is chiming in on Natural Resource Partners (NRP) upgrading them to outperform from market perform. Let's see if they get more upside after a nearly 4 point gain on Friday. Also Valero Holdings (VEH) in the secondary that seems to go on forever is supposed to come to market today so we can finally get that out of the way.

The AMZ weekly chart still shows no sign of a top. We've gone almost straight up from 253 to 285 since the end of September for a nearly 13 percent gain (not including the october distributions). Still no sign of top

And why should there be...since the 10 year rate chart which topped at 5.25% in July has been in a downtrend ever since. And there is no sign of a bottom here. Just as the rates topped about 2 months before the rally began, my guess is that MLPs won't top out on this move until rates bottom out. And who knows when that will be but I think we are still at the beginning of a long multi-month up cycle.

And since this is my blog...and i basically will blog on what is on my mind. I'm a practicing Catholic. I make no apologies...its me! I think religion is a personal issue and while i enjoy discussing concepts regarding all faiths i truly respect everyone's choice..or even the choice to be an aethist! I am no bible thumper by any means. But i have to say that when you go to your own church and your fellow church goers won't use the word christmas...i've had enough! Its really pissing me off! So i'm doing my own little thing on my own little blog to express my disdain for all this happy holidays bullshit!