If Line is such a great company and "way to play the MLP's" why has it been going down when EPD, ETP, And KMP are all rising today? and granted they are down in the past 8 weeks but not as much as LINE. Any thoughts.
Of course you are ignoring the nice gap up on our first trading day of the year.
What have I seen? A company with good fundamentals, such as Linn has built in the last two years is ready to spring. It draws in some manipulation to harvest the weak hands. They do this with some form of quick short selling and covering oscillation. LINE is treading near its two year low. Prime territory to make some investors think,"OH no! we're going down some more?" After the selling population is exhausted, it moves up consistently to customary levels around 40, especially with a dividend about to be declared in the next few weeks. Depending on market sentiment, LINE could keep going up right through exdividend in early feb.
The thing about being near its two year low, is that revenue per share is higher giving a little protection from going below that.
If the energy sector rotates back in, Line will hit new highs because it is so well positioned. Pushing down on this coiled spring is the upcoming debt ceiling and the promised brinksmanship around another S&P downgrade of United States debt.
I got back in just below the 35 mark, so I am not scared, yet. As with the Whiting trust II things can be driven down pretty fast and deep, albeit not so easily with a more extensive float as with LINE.
This is my hypothesis based on my limited understanding.
If you look at Finviz, it kinda looks like the chart shows a possible bottom near $35 ....on its way to $43.....because the pattern shown looks like a nearer term downward wedge which is inside a longer term uptrend.
This is not something that you would need to be any type of technical analyst to see because Finviz has the trend lines drawn for you to see, and it is pretty easy to spot...
.......so if you do not usually use Finviz (which is free) then you might be interested to see what it shows for the LINE chart pattern.
You're actually attempting to draw a conclusion on the basis of a portion of a single day's trading? You must be a day trader, But, then again, a day trader doesn't care about the quality of a company, just very short-term trends.