| Search by tag or site | Login to my blog ? Start my own blog |
 |
Master Limited PartnershipsA blog dedicated to the discussion of MASTER LIMITED PARTNERSHIPS. |
Oil Nearing 100 Dollars As Dollar Collapses And Stocks Implode!
Other than those three things everything else is fine this morning! So enjoy your breakfast! My wife is making fresh biscuits! So before i worry about whatever awaits MLPS today...its coffee and a good breakfast.
The MLP chart above continues to display indecisiveness as it sort of straddles along the moving averages. This is going on as the dow industrials continue to fight to hold 13500 and we will at least retest that this morning at the open.
Meanwhile Oil nears 100 dollars and below is the US Oil ETF which trades and also trades puts and calls. I am going to be tempted this morning to buy puts here if Crude hits 100 dollars on the inventory numbers. I just wonder if this has been all baked into the cake already and that this market is ripe for a severe correction that could take the USO at least down to its 34 day moving average which is sitting near 67. This is a speculative play on my part and by no means am i recommending it.
But there is so much attention and so much a feeling of inevitability here as oil soars to the sky. It may be time to look to the other side of the trade. Again not for the faint of heart .
Late yesterday Calumet Specialty Products (CLMT) put out earnings and notice that they are being impacted by high crude oil. Those of you who are looking for a quick trade might put this one on the radar screen for when oil tops out. Also Linn Energy (LINE) will be coming out with earnings after the close Friday so we may see some attempt at short covering ahead of the number unless of course the overall market is dominating the news.
Earnings are out this morning on Nustar GP (NSH) and also numbers on Spectra Energy Partners (SEP). Also Nustar is buying up some CITGO assets. Nothing so far on the upgrade downgrade list.
- 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!
- December 2007
- November 2007
- October 2007
- September 2007
- August 2007
- July 2007
- June 2007
- May 2007
- April 2007
- March 2007
- February 2007
- January 2007
- December 2006
- November 2006
- October 2006
- September 2006
- August 2006
- July 2006
- June 2006
- Credit Bloggers
- Don't Mess With Taxes
- Invest2Success
- Land of Black Gold
- Piggington's Econo-Almanac
- Financial Rounds
This is an update on my speculative long term position p [read more]
NOTE: Please click on the charts below to enlarge them if [read more]
MORNING MARKET COMMENTARYfor Monday, May 12, 2008Weak Financ [read more]
<< My Home | TheMoneyBlogs Home