Hey ARB thanks for the reply. I havn't owned it this time for very long. I've done better with PAA. What I can remember about the pay back is when they are up and running. I apperciate and respect your knowledge in this area as I'm somewhat new to investing and stick close to oil. I've managed to increase my saving by 200% in 3.7yrs. as I started in 09 when every thing was down. I've made some mistakes and left some on the table but I feel now that I don't want to gamble as much as I did in the past. I guess I got a little frustrated today. Jim
Take a deep breath. I strated with these guys in 1995. I have put some additional $$ in and reinvested distributions. Now have a my largest single position.
Nothing has fundamentally changed. What did change was peope looking to take gains today by selling stocks that are up. Notice the ETP is up - no gains to book by selling - while all the high flyers in the MLP arena are down big time. Some like SXL down like 4% today. If it was fundamentals other that tax reasons wouldn't ETP (which owns the GP and about 30%+ of SXL) be down as well. This is tax selling.
As a poster on the IV board said MLPs are not for the weak of hand. We have gone through this before.