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Master Limited PartnershipsA blog dedicated to the discussion of MASTER LIMITED PARTNERSHIPS. |
Oil with a 50 handle? MLPS on hold!
Posted on 09/20/2006 08:00 AM | Link | Post Comment
Good Morning
Oil is rapidly approaching 60 dollars and could see a 5 handle on it later today. Stock futures are higher and 10 year rates are favorable so its a question of whether MLPS can detach from energy.
We have some corporate news leftover from last night. Valero LP(VLI) is buying a refinery in Louisiana which will immediately add to cash flow. This might be a sign that Valero is on track for the 3rd quarter and could boost the distribution; which is key on getting the stock price to breakout of this 49-52 range its been in. Also Hiland LP (HLND)priced the ipo of its general partner last night...offering fewer shares at the mid range. This should free up HLND for a short term rally. No upgrades or dowgrades this morning so far.
So we begin another day. I successfully day traded Crosstex (XTXI) and Natural Resource Partners (NRP) yesterday and will be looking for opportunities again. These are for the nimble among you only. Natural Resource Partners has been in freefall since it got downgraded last week by A G Edwards. Crosstex (XTXI) daily chart bottomed last week at 82 and i think we could see a run back to 100 at some point.
Back to the XOI chart above; it is trying to hold at this 1040 level but a drop to 1000 or even piercing it is not out of the question.
Back to the XOI chart above; it is trying to hold at this 1040 level but a drop to 1000 or even piercing it is not out of the question.
- Enjoy The View Since Its Better Than The Mlp Chart!
- Back To Work Monday!
- Oil Nearing 100 Dollars As Dollar Collapses And Stocks Implode!
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Examples
Morpheus Trading - Tue Sep 02, 2008 05:21AM
NOTE: Please click on the charts below to enlarge them [read more]
NOTE: Please click on the charts below to enlarge them [read more]
Morpheus Trading - Thu Sep 04, 2008 04:34AM
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Morpheus Trading - Fri Sep 05, 2008 06:58AM
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NOTE: Please click on the charts below to enlarge them if [read more]
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