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Year End Pressures...or Not..MLPS Searching For Direction
Posted on 12/29/2006 09:10:27 | Link | Post Comment
Good Morning!
One of those quiet mornings to start in the world of corporate news but i did find this story via dow jones from the Houston Chronical on Energy Transfer Partners about price fixing during Hurricane Katrina as the company is under investigation. We'll see if this has any impact. Meanwhile in upgrade/downgrade land nothing is going on. Energy is lower in both oil and natural gas. Nat gas is down another 20 cents and we're back to a five handle. No cold air in sight, probably through the middle of January and possibly through the end of January.
More end of year stuff will effect trading. It looks to me like we're going to rally into Friday. As for trading opportunities i'm still waiting for entry points for a few issues.
I think the IPO winners like Linn Energy(LINN) and Regency (RGNC) for example might have a selloffs next week but when they come they will be fast and furious so you need to be ready. Again i recommend using moving averages like the 34,55,and 89 day expotential moving averages as logical places to put buy orders. Laddering is always best. There might be a few other issues that could see similar action. On the other hand i think the coal MLP Alliance Resource Partners (ALRP) and Alliance Holdings GP (AHGP)
Notice that the AHGP chart looks like it is has formed a nice base and i think once tax loss selling is done we could see a nice trading rally in both these issues
One of those quiet mornings to start in the world of corporate news but i did find this story via dow jones from the Houston Chronical on Energy Transfer Partners about price fixing during Hurricane Katrina as the company is under investigation. We'll see if this has any impact. Meanwhile in upgrade/downgrade land nothing is going on. Energy is lower in both oil and natural gas. Nat gas is down another 20 cents and we're back to a five handle. No cold air in sight, probably through the middle of January and possibly through the end of January.
More end of year stuff will effect trading. It looks to me like we're going to rally into Friday. As for trading opportunities i'm still waiting for entry points for a few issues.
I think the IPO winners like Linn Energy(LINN) and Regency (RGNC) for example might have a selloffs next week but when they come they will be fast and furious so you need to be ready. Again i recommend using moving averages like the 34,55,and 89 day expotential moving averages as logical places to put buy orders. Laddering is always best. There might be a few other issues that could see similar action. On the other hand i think the coal MLP Alliance Resource Partners (ALRP) and Alliance Holdings GP (AHGP)
Notice that the AHGP chart looks like it is has formed a nice base and i think once tax loss selling is done we could see a nice trading rally in both these issues
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