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MLPS..WILL THEY REST? AND SOME END OF WEEK IDEAS!
Posted on 10/27/2006 09:41 AM | Link | Post Comment
Good Friday Morning.
First off in the news department Regency Partners announces a distribution increase which should make unit holders happy. Sometimes they buy the rumour sell the new, sometimes they don't. We'll see. Not much else corporate wise this morning. We do have Credit Suisse upgrading Enbridge (ENB) to outperform. Teppco (TPP) and Kinder Morgan Partners (KMP) both go ex-distribution today buy 68 and 81 cents respectively. 10 year rates plunging this morning on the weaker GDP number which will be supportive.
Copano LLC (CPNO) has had an incredible run to 60 dollars and why not. They've done everything right and have been boosting the distribution quarter to quarter at an amazing pace...now at 3.00 annual. Yesterday the stock broke 60 and then sellers came in and took the stock down 1.20 by days end.
If you are looking for an entry point i would place buy orders under the 34 day moving average on the chart...which is just below 55 (double nickles!). In strong uptrends i use the 34-55 day moving averages as good places to grab some shares...assuming they every get there. In these thinly traded stocks they can get there very fast and then bounce up from there very fast.
Meanwhile we have the AMZ MLP index sitting on the doorstep of a new alltime high.
This may be a logical place for a few day pause...but i think ultimately we are at the beginning of a multi-month upleg that should take us to 300 or so.
First off in the news department Regency Partners announces a distribution increase which should make unit holders happy. Sometimes they buy the rumour sell the new, sometimes they don't. We'll see. Not much else corporate wise this morning. We do have Credit Suisse upgrading Enbridge (ENB) to outperform. Teppco (TPP) and Kinder Morgan Partners (KMP) both go ex-distribution today buy 68 and 81 cents respectively. 10 year rates plunging this morning on the weaker GDP number which will be supportive.
Copano LLC (CPNO) has had an incredible run to 60 dollars and why not. They've done everything right and have been boosting the distribution quarter to quarter at an amazing pace...now at 3.00 annual. Yesterday the stock broke 60 and then sellers came in and took the stock down 1.20 by days end.
If you are looking for an entry point i would place buy orders under the 34 day moving average on the chart...which is just below 55 (double nickles!). In strong uptrends i use the 34-55 day moving averages as good places to grab some shares...assuming they every get there. In these thinly traded stocks they can get there very fast and then bounce up from there very fast.
Meanwhile we have the AMZ MLP index sitting on the doorstep of a new alltime high.
This may be a logical place for a few day pause...but i think ultimately we are at the beginning of a multi-month upleg that should take us to 300 or so.
- 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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