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Kinder Morgan Energy Partners Message Board

  • txteapartyguy txteapartyguy Jan 6, 2012 11:52 AM Flag

    KMP and EEP getting hammered...

    must be a story somewhere, both hit hard. Anyone???

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    • What are you smoking

      So far this yr.

      KMP -1.56

      EEP +.15

      Get a life, SHORTIE !

    • Here's the story (from WSJ)

      By Scott Patterson and Mark Gongloff

      Did somebody drop their sandwich on the “sell” button today?

      Plains All American Pipeline suffered through a gigantic swoon just before lunchtime, dropping 6% in less than 20 minutes for no apparent reason on unusually heavy volume.

      Then it bounced back, though it ended the day down more than 1%.

      About 2.4 million shares changed hands today, nearly five times the average of the past 30 days, according to FactSet.

      Since the May 6, 2010, flash crash the market hasn’t had a similarly devastating event.

      But there has been an epidemic of so-called mini-flash crashes, share dives in single names — and there was another today.

      In addition to Plains All American, shares of several oil and gas companies, such as Enterprise Products Partners and Sunoco Logistics Partners, shot sharply lower shortly before noon.

      Word on the trading floors quickly spread that the cause was a “fat finger” from a large trading firm (yes, there was a specific name, but MarketBeat can’t confirm the rumor).

      Shares quickly rebounded, just as the market did on May 6.

    • markramey Jan 6, 2012 4:07 PM Flag

      They were "window-dressing" for funds at the end of last year. Ergo, the large price run-up. The funds can say they owned a winner in their report to investors. Had to come back down.

    • Flash trades or some other games... high vol at exactly same time... all 12 of my mlp's have recovered or are. Criminals made money and many bailed out. Imagine non-day-traders rode out the cycle and are just fine. Will be interesting to see if anything is discovered, doubt it.

      • 1 Reply to ted.murray
      • Nothing will be "discovered" mostly because no one will look for anything.

        This kind of mkt manipulation used to be an art that few saw, then the traders got those hi spd computers placed right next to the exchange servers, wrote some code, and the mkt manipulation is apparent for everyone to see.

        The bext ezample I know of, because I owned it at the time, was DNDN crashing from 25 to 9 in a few minutes near the end of the day, many people put in market sell orders (DNDN had just gotten FDA approval for Provenge, and people thot something went wrong). All those mkt orders were executed at under 10 bucks, since there were no buyers, who do you think did all that buying at 9-10?sh?

        The next day or 2 it went back to the 20's. The SEC looked into the matter, the most clear case I have ever seen of mkt manipulation, and they found no fault.

        The SEC is populated by total idiots.

    • ALL MLP's are being hit hard today.