its massive selling of all MLP's. look at teh ones that are NG partners. they are down as much as the oil ones despite NG being UP today
hedging doesnt matter. fundamentals dont matter. nothing matters in the MLP space except the hedge funds are all rushing to the exits. their computers say sell so they sell.
right now the hedge funds are just dumping mlp's. they dont care about values,whether the pipelines have no commodity exposure,nothing matters but their computers said sell so they blindly dump.
the same type of thing happened in 2008. the MLP's have gotten detached from reality
if KMI was an oill producer that would be an issue. but they are a midstream pipeline. unless america stops using oil and gas they need pipes to move the stuff
the only reason gartman gets any airtime on cnbc is becasue his daughter is a producer there. he is as much of a joke as cramer. in fact i have very little respect for most of the people on cnbc and i know a few of them from my days on the floor