The obvious was not emphasized. When you have 2+ billion and Cramer audience coming into a small capitalized group you will have an overheated group and about a 10-15% move because of supply and demand. Today a -250 drop shows how fickle the "investors" are, including mlp funds. Also 4 midstream mlp's offered secondaries today to grease the slide. Prices are still 10 % overstated as of today
Of course they missed the point, because the real fact is all stock equities are valued at their future dividends. There is a real big Ponzi scheme going on out there as lots of these big money making companies have never produced any return (dividend) to any stockholders. Big companies like amazon, google, Cisco, aaple, etc...
So what are these companies worth? Nothing. Just traders hoping to find someone to sell to at a higher price. When buyers are not around....look out.
Time to buy epd and kmp or even some oil transport stocks like fro and nat.
I guess it is all about what is a 6% tax deferred distribution worth to you.. If you are long term in the MLP's, you might have a different opinion about valuations, however, we have had quite a ride up lately. Time for the short termers to take profit. Distributions are just around the corner. Could be a new buy point on the pullback.