four2ponder:---A long time ago I represented a fuel oil & gasoline distributor--I asked how is it going?--He replied "We got the cold but not the wind."--In other words, I guess you have to have all of the right ingredients to make a god soup!!!--GLTA
I suspect the fall & early winter weather (unusually warm) would reduce the need for natural gas which is the primary hearing fuel in the northeast.--Since ETE is a "toll road" for natural gas would this not seriously impact revenue & earnings?---I note that today (12-22-15) the outside temp. is abt. 55 degrees.--I have lived over 80 years in the northeast and do not recall ever having such a mild fall and Nov. & Dec.----I could be wrong but it is hard to ignore the obvious fact when trying to evaluate ETE.--I am anxious to see the 4th quarter earnings report. This should give us the answers.
Not surprisingly, today's decline approximates the amt. of the Special Div.----Otherwise PDI seems to be holding up.---They should declare the Jan. distribution on/abt. Jan 2nd.--That will be interesting.---Looking over the equity mkt. in general, the mkt. appears to have topped from mid-May (for some sectors) through July-Aug. for others.---I now feel that we have seen the highs and the recent action (though a tradeable rally) probably (at best) portends churning indecisive action or (at worst) further significant declines.---It is a traders market and a cause for ulcers for "investors". ----I have been essentially "out" of equities since late June--early July.----As look at my charts it appears that "big money" is quietly but consistently "selling" the rallies and liquidating/reducing large positions. I do expect that patience will be rewarded and that there will be significant opportunities down the road.
Kelcy Warren is a very smart fella.---If anyone knows what is going on at ETE it's Kelcy Warren.--However, the market can fool us all at times.--$16.00 doesn't look too good right now.---BUT, he can well afford it.
My indicators have kept me "generally" out of the market for abt 3 mos.---I opened today w/ just 1.5% of tradeable assets in the market.----No one knows just where the market will eventually go. I am a "chartist" and I try to just look at the short term "probabilities". --All I can say is that all of my indicators remain the same.--All point "down".--How far down I can't say. --I noted that Goldman & Morgan Stanley are large holders of ETE. --Of course anyone can be wrong but they must have seen something here for so many "big" houses to take a position.---For this reason I will watch and wait for my indicators to indicate a change before taking a "stab" at this stock.
The CEO claims there will be no reduction of the Div.---That may or may NOT be the end result--BUT let's assume the DIV is cut 40%--That would then be abt. .68 cents for a 5% return on todays price.----Not great but not a total loss.----I note that Goldman & Morgan Stanley , among others, are large holders.=---I consider that to be pretty good company. GLTA