susan, EVEP is getting hit like almost every other stock, In a downdraft, most stocks get sold as margin calls force sellers to sell even the best. But as soon as the selling is over, the best stocks bounce back.
I have lightened up on several holdings to raise cash for the eventual opportunity that we will get. I even put a limit on UAN at its support line in case that gets taken down with the market. I sold ENP a while ago as I expected that the price of oil would decline and take the e&p companies down.
One thing to observe is that S&P 1120ish seems to be holding. I think it will eventually break, possibly later in the month when Europe finally cuts Greece loose. The selling could take us to 950 or lower -- who knows? But maybe not in a straight line. That's why I am being careful buying protection -- don't want to pay too much for the premium. I note that you bought BBEP and sold calls, so you can't be that bearish on energy, even though as a pipeline it should (that's a "should") hold up better.
Wonder what a Christie Presidential announcement would do for the market dynamics? Could change the sentiment in a big way.
mark...To be honest, this is not good, the markets are looking for reasons to go lower instead of reasons to go higher....
My opinion, we all know that October is usually the worst month for the markets, but I feel that a lot of investors are getting tired of hearing bad news all the time; and now they are getting burned out...!
That said, Fox News and others, have a lot of people really believing that things will not get better in this country has long as Obama is in office...I don't think that anything will change (regardless of who is in office) until we start getting some of our good paying jobs back that we have loss...
Most of out lawmakers in Washington are owned by the same Corporations that out sending our jobs out of the country...we have the best government that money can buy...!