Seems like this is tax loss selling ... no rational explanation, except the trend down will continue, until it does not. Wonder at what point, value is seen to over come the tax loss selling. Would add, but will not until the selling abates
Pretty hard to imagine tax loss selling for CMLP. All MLPs down 1-2% today so that is certainly part of it. A total breakdown in BWP price today. It is down about 6%. Agree that in the $21 area it is a buy.
There are a lot of investors post merger that want out. We will continue to see persistent selling pressure in CMLP. In a few days, I believe today's upgrade will be reconsidered by investors but on a day like today.... upgrades mean nothing.