going into x-divie. Normaly it would run up past 41.00. It is now pulling back. I beleive hogshooter maynot be performing as well as we would like at this point. The ngl's are probaly killing it even more. The hedges aren't doing sheeeeeeeeet. JMO
Therefore we are seeing a pullback in both LINE and LNCO before distribution. Or a large SPO is coming/
Glad to see someone is commenting on the rather considerable beating LINE is taking today.
I vote for a share offering. My other upstream mlps are doing fine today as are the gassy companies I don't own (EVEP, PEY) so it's not a ng problem. Seems like a Linn Energy problem that some heavy hitters know about (underwriters). Sure wish I could have the insider info and trade on it with impunity. Yeah SEC.
Nope looks like individual are punching out given the trading between LINE and LNCO.
Truth is the best hedged EP is not as safe and a pipe mlp. Natural gas is the economy cycle fuel due to failure of government intelligence, character and hard heart insanity.
Imagine if personal cars running on ng were lowering the cost of driving therefore increasing real incomes and cleaning the air rather than all these completely foolish battery and inbreeds.
LINE will be around after Obama retires. An important investment consideration.
We have three more trading days, right? exdiv is on tues?. KMP did the same thing, one big pullback in the middle of the run, shook a few profit takers out, I suspect.
I have noticed a lot of #1 stocks getting the short attack just before earnings this round.
makes sense as long as the demand is there. LNCO trading at a premium since DEc, and the differential just increases. One could think that the discount of Line shares is to to an impending, but known, offering - but then the differential would have jumped over a shorter time frame - maybe, 1 week or less. At least that's been my experience with insider info entering the market.
Usually, but definitely not always. Still, if you check the trading during the week prior to ex-div for, say, the past 9 or 10 quarters, you'll see some big sell-offs and some big bouncebacks. Investors buy, investors sell, and traders buy and sell. Recent ostensible "patterns" really just indicate how inexplicable short-term trading can be. Profit-taking? Panic? Folks playing some empirically unproven technical system? Or the directional momentum? Speculation on causes by those who really have no clue? Conspiracy theories based on imagined leaks or insiders buying or selling? Buy/selling based on perceptions of others' perceptions? Maybe sheer dumb luck both good and bad?
The market's a lot more random than we care to think. And I include me in the word "we." But I guess and gamble (and admit it) just as others on this board do but will fess up when I'm wrong, which tends not to be standard on message boards. (As in where's the guy who confidently declared that LINE's going to 40 to 43 in two weeks. Time's up. Guy's gone.) For most people, I believe, stock message boards are driven less by people questing valid information than folks seeking assurance that they haven't made a mistake.
Most boards are loaded with posters who are often wrong but never in doubt. During my working years in another life I used to think of it as the PhD disease. But now I see it as simply a standard flaw in human nature.
And so it goes.
The charts today were very negative as Line traded down in heavy trading (over 2.7M shares) which is more than 2X its avg volume. In addition, the DOW may be under pressure tomorrow based on todays GDP number. Note that Line goes ex-div on Tuesday and many traders will sell prior to ex-div forcing the ask prices down. Line also ended the day closer to its low (38.35).
LINE just had a large secondary, it was called LNCO. I think the pullback on the 30th was due to profit taking and possibly one or more large instititutional investors selling to raise cash. JP Morgan needs cash as do several of the Swiss banks that own LINE. I hope LINE pulls back to $20 so I can buy more.
Sentiment: Strong Buy