After watching my MLPs pull my account value into a deep hole for several weeks, now they're pulling it back out of the hole faster than I could imagine. 60 years of market experience has taught me to buy when things look as if they'll never get better. One has to learn to look at huge declines as huge buying opportunities. The worse it gets, the better I like it.
It was bound to happen sooner or later. The Middle East is still a powder keg, and even more so with the Russians actively bombing forces supported by the U.S. If the situation deteriorates into a contest of who has the better air force, oil will go through the roof. Putin obviously doesn't care if he starts WW-III. Domestic supply will once again become critical, and the distribution system will be stretched to the maximum.
Sentiment: Strong Buy
Even VTI got momentarily hammered by a total lack of buyers and indiscriminate selling. Many people mistakenly confuse open-end mutual funds with ETFs. They don't realize that the net asset value (NAV) of ETFs becomes meaningless in the crazy, one-sided markets we saw recently. With traditional open-end funds, you don't have the luxury of being able to use limit and open orders, but you know you'll get the closing NAV. I use ETFs as long term investments, but many people use them for trading. I suppose the traders provide some additional liquidity, except when they're all on one side of the market.
The long term chart on EPD has been wrong since the split. Yahoo shows it splitting 2-for-1 TWICE in 2 days. They never corrected the mistake and refuse to do so. Find another chart if you want accuracy. Yahoo is useless.
The entire petroleum industry is going belly up. MLPs are all going out of business. No more need to move anything through pipelines. The unit prices will plunge to low single-digits or zero. Distributions will be slashed or eliminated.
If you believe all that, then the current prices make perfect sense. If the MLP model made sense a year ago, a month ago, or yesterday, then the MLPs are a screaming buy.
I don't pay any attention to Cramer. Don't listen to him. He's sickening. Can't stand him. Despise him. He's a clown. A buffoon. A professional tout.
The big spike from about 57 to 59 and collapse back down to 57 a few minutes ago is a perfect example of why I continually caution against using market orders. USE LIMIT ORDERS ONLY!
It was meant as a joke. A very sad joke. I was strongly against the split at 70, and a split now would be absurd in the extreme. Splits don't work, and EPD proves it. All it did was to mess up the historical price info on Yahoo, and they refuse to correct the mistake.
I put the odds at about 50/50. BABA could be $300 in 5 years, but it could also be $20 in 5 years. Chinese companies are so opaque in their reporting that it's impossible to decipher what's under the radar with any certainty. It's also impossible to know with any degree of confidence what the overall Chinese economy is doing. They're all compulsive liars by nature. It's in their DNA.