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Master Limited PartnershipsA blog dedicated to the discussion of MASTER LIMITED PARTNERSHIPS. |
MLPS LOWER TO START..SOME NICE CHARTS!
MLPS start the day lower being weighed down by a 1.50 loss for Oneok Partners. Some news last night after the close seems to be the driver here as the company settled a rate case and agreed to a 5% rate reduction, and this morning we had a shelf filing to sell additional securites. Natural Resource Partners is also down another 75 cents after losing 2 yesteday as it continues to feel the sting of a downgrade.This has the MLP index down 75 cents which is off the days lows.
The XOI index is trying to bottom here but I wonder if it will hold. Certainly an arguement can be made for a run back to 1000 on the XOI where some support exists.
Meanwhile here are charts that are showing potential breakouts to the upside. Energy Transfer Equity seems to be in breakout mode an a move to 30 seems in the cards.
Also a the top of its chart is Copano Energy although i'm less confident on this one since its been holding this area for awhile and there has been no big upsurge in volume.
So overall a negative start but nothing catastropic. The 10 year yield drop today on good PPI numbers bodes a positive for a better close.
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Today we have the Fed speaking and release of Fed mi [read more]
NOTE: Please click on the charts below to enlarge them if [read more]
NOTE: Please click on the charts below to enlarge them [read more]
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