You had the believers that the court decision would win out in the end and a major selloff precipitated by BREXIT that knocked the wind out of OILS' sails.......Not a recipe for confidence......
With Brexit passing, how come ETP has only dropped 4.7%? Don't people realize ETP will be piping less oil and gas to Britain? Oh, ETP pipes don't go to England? Well, I guess that, uh, explains it.
I suspect Glasscock is giving them one more chance to settle before announcing his decision. With the enormity of the consequences of this decision, I also suspect they are having serious discussions before throwing in the towel on settlement.
The longer term trend is for ETP to go higher. Interest rates are low and crude is going higher and will normalize at $65 to $75 per barrel. The trend is your friend so try not to let short term volatility scare you.
My sell of ETP is proving poorly timed! As oil has firmed again near $50, and Brexit/Bremain is a rising tide ... nearly everything is up this week.
I rarely have great timing. Hopefully the WMB stuff is supported by IDR waive from the GP. I would think that's a no-brainer decision given what's happened to other MLP's with a GP unable to shift for the long run.
ETP doesn't suck. Keep an eye on the cash flow / payout coverage and management's words recognizing the challenges there.
I actually "took on more risk" by increasing positions in Toys R Us debt (XKE) and Coking Coal (SXCP). Except that Toys was able to roll a large amount of debt at reasonable terms recently, so it seems ridiculous XKE (a relatively small slice of debt) trades near 10% current yield, 12% yield to maturity. And SXCP, at 20%+ yield is YMBC (you must be crazy) bet on the steel industry being too important to fail, with the double-warm fuzzy that the GP waived IDR to get through the current China Dumping WTO shenanigans.
Everything in moderation, including moderation.
He is entertaining, but he is usually wrong with his advice. I have lost money when I listened to him, and made money when I did the opposite of what he says. He has been totally off the mark with ETP.
No kidding this puppy is headed to 60 very fast.
Kramer is in Large with hedge funds!!!!!
Kramer want his shares back he sold...lol
Sentiment: Strong Buy
I may be wrong but I believe the Williams deal will go through. The hugh buying that is occurring now could be in anticipation of the deal NOT occurring. If I'm right, I really wouldn't want to be caught in a sudden 5 point reversal.....That would represent several thousand $'s for me....
Maybe a year from now, but some things would have to change fundamentally for that to happen.