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MLP Winning Streak Ends
Posted on 03/27/2007 02:28 AM | Link | Post Comment
Tuesday morning has us facing the harsh reality that...well...mlps just don't go up every day. The index had its first down session in the last 6.
No damage to the uptrend yet and we would need several days of selling to confirm any tyoe of short term correction. Pullbacks to the moving averages would be logical entry points and the weekly chart below is still in a strong upward thrust.
Last nights news from Energy Transfer Partners (ETP) should send shouts of joy from its unit holders as they have boosted their distribution for the umpteenth time in a row. And of course this will bode quite well for Energy Transfer Equity (ETE)when it announces shortly.
Last week Boardwalk Partners (BWP) did an 8 million share stock offering and notice the stock behaved as it should by pulling back right into its moving averages. It should move sideways for awhile as the offering is absorbed but the stock is acting well and it should resume its uptrend with the rest of the group.
Duke Midstream (DPM) is pulling back ever since it hit 40 and got downgraded by Citigroup last week. It has been bouncing off its 34 day moving average. The company did make an asset purchase a few weeks ago and did say it would sell equity to finance it. I'm watching this one for a trading opportunity but i'm a little leary until they announce whether they will do a stock offering or not.
No damage to the uptrend yet and we would need several days of selling to confirm any tyoe of short term correction. Pullbacks to the moving averages would be logical entry points and the weekly chart below is still in a strong upward thrust.
Last nights news from Energy Transfer Partners (ETP) should send shouts of joy from its unit holders as they have boosted their distribution for the umpteenth time in a row. And of course this will bode quite well for Energy Transfer Equity (ETE)when it announces shortly.
Last week Boardwalk Partners (BWP) did an 8 million share stock offering and notice the stock behaved as it should by pulling back right into its moving averages. It should move sideways for awhile as the offering is absorbed but the stock is acting well and it should resume its uptrend with the rest of the group.
Duke Midstream (DPM) is pulling back ever since it hit 40 and got downgraded by Citigroup last week. It has been bouncing off its 34 day moving average. The company did make an asset purchase a few weeks ago and did say it would sell equity to finance it. I'm watching this one for a trading opportunity but i'm a little leary until they announce whether they will do a stock offering or not.
- Enjoy The View Since Its Better Than The Mlp Chart!
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Examples
Morpheus Trading - Mon Jul 21, 2008 08:33AM
NOTE: Please click on the charts below to enlarge them if [read more]
NOTE: Please click on the charts below to enlarge them if [read more]
Morpheus Trading - Mon Jul 21, 2008 08:31AM
NOTE: Please click on the charts below to enlarge them i [read more]
NOTE: Please click on the charts below to enlarge them i [read more]
Millionaire Now! by Larry Nusbaum - Tue Jul 22, 2008 09:23AM
Hedge funds have made billions this year shorting the banks, [read more]
Hedge funds have made billions this year shorting the banks, [read more]
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