Violated my own rules and traded in front of the Fed. Bought full portfolio positions in CEP and CLMT. Kind of a paired/hedged trade, as CEP should generally benefit from higher energy prices, while CLMT would benefit from lower. However, not that simple in either case. CEP priced like oil and NG at $80 and $7 due primarily to an overhang from a PIPE offering. And CLMT, in the petroleum derivatives biz since 1916, has always been able to pass on permanent increases in input costs, and have survived as a profitable entity despite the recent parabolic oil price increase. Do your own due diligence.
INDIANAPOLIS (AP) -- Calumet Specialty Products Partners L.P., a producer of specialty hydrocarbon products, said Wednesday the board of the partnership's general partner slashed its quarterly distribution 29 percent as high crude oil costs continue to squeeze gross profits. The board declared a quarterly distribution of 45 cents per unit, down from 63 cents paid in the prior quarter.
well! down from 63 cents to a crappy 45 cents........... (.45 x 4= 1.80/13.73=13%) hmmph! still something to look at, huh?