I understand the planes, ships, trucks, etc., but electric power plants fired with fossil fuels will eventually go the way of the dinosaurs. Solar, wind, tidal. geothermal, etc. is getting a lot cheaper and will always be a lot cleaner. Wind turbines may be ugly, true. They may be proliferating in part due to tax incentives, but that's exactly what the tax incentives are intended for. They may be on standby much of the time, but they are often used to pick up the slack. Look out over the harbor in Copenhagen, and you'll see them for miles. Denmark has mandated that all electric power will be "green" within very few years. Large part of the country are already solely on wind generation. It won't all happen overnight, but it's coming sooner than you think. Take a trip to Europe and see for yourself. We're way behind the Europeans, but we're playing catchup. Not too many years ago, you never heard any mention of fuel economy in truck and car commercials. Now, that's what they all stress. I moved from a vehicle that got about 13 mpg to one that gets about 28 average and 36 highway. I'll never go back to a gas guzzler, and I'm not alone. You're right; we'll always need fossil fuels, but the demand is certain to decline ever faster as the technology improves and gets cheaper. Air pollution used to be a fact of life in many areas; now it's rare. By the way.... how's the temperature in WA these days?
Motley Fool continues to be wrong on EPD. I foolishly started buying at $59 on their recommendation, and I regret it. I wish I never heard of Motley Fool or EPD. At the present rate, I probably won't live long enough to ever get back to even.
Go to the NASDAQ or some other source for accurate information. Yahoo refuses to correct their (obvious) error, and they don't care.
The correct 52-week low was $26.91.
EPD reports tomorrow morning. This one is critical. A beat could keep the ball rolling. A miss will probably cause a break to new lows. Whatever happens, I still think EPD is a (cautious) "buy" below $30. I'm sooooooo tired of seeing red! Meanwhile, MMP is enjoying a nice bounce. Let's hope it's not a dead cat doing the bouncing. It's a good sign when MMP and EPD go up in unison.
You're being overly polite calling Cramer an "idiot." I can think of some much more descriptive terms, but the censor bot won't allow them. Whatever the reason for the horrendous sell-off in the MLPs, Cramer was recommending buying them MUCH higher. He then went silent as they plunged. That's typical Cramer.
I meant to say that AMGN was (AND STILL IS) cheap relative..... I expect to see over $200 within the next 12 months. If a few of the promising new products in the pipeline turn into blockbusters, $300 is certainly not beyond possibility in a few years.
Alternative energy is a lot more than just hot air. Go to Europe where wind turbines are as common as fleas on a wild rabbit. When I first started going there in 2000, there were none. Now there are tens of thousands of them. In Turkey, solar panels are required by law on any rooftop that gets sunlight. Parking lots have shade structures for cars that double as supports for thousands of solar panels. The Europeans are decades ahead of the U.S. in switching to alternative energy sources. That said, you're right about oil being an essential commodity for many more years. It's still the cheapest source of energy for most of the U.S. and can't be replaced for many purposes. Oil isn't going away anytime soon, but eventually........
The whole group was extremely oversold and overdue for a rally. I just hope it continues for longer than a few days and doesn't fizzle as it has in the recent past. Fundamentally, nothing has changed. If this signals a change in investor sentiment, there's a lot of room for the group to have a really nice run. I won't feel comfortable until EPD gets over $36 and MMP gets over $80.
There are a FEW brokers that participate in the 5% discount DRIP, but mine is not one of them. I had to move my units over to Wells Fargo. I'll move them back to my regular brokerage if and when I sell, because Wells Fargo charges a horrendous, outrageous, obscene commission.
I was under the false impression that buying "low" and participating in the DRIP would be a profitable move, but so far I'm down by about $75,000. That's even after a strong day today, but as the saying goes EVERY DOG HAS ITS DAY. I sure don't feel as if I've made out like a bandit.
You're being rational. Unfortunately, the market is irrational. I fully agree that EPD, along with the rest of the group, appears to be way oversold. I suspect that we will not see anything reminiscent of "panic buying" to come in. Instead, I expect to see the selling gradually slow. If EPD and the rest of the group can form a sideways base for a few months, other rational investors will gradually see value and start buying. That would be far preferable to "panic buying" that is unlikely to be sustainable for very long. I'd be a buyer here, but very slowly and cautiously. I'd commit no more than 10% of my available funds at any one time and be prepared to pay up once the price stabilizes. When the present trend reverses, there will be plenty of time to jump aboard.
That's my take.
You're right. BUT..... The reason GE is selling their financial holdings is that the government regulators want to prevent a repeat of the 2008 debacle that almost destroyed the whole of GE and the whole financial system with it. Everyone knows what you're saying is true. That's why SYF stock has been running circles around GE for the year since it went public as an independent company. Between GE and SYF, SYF has been the one to own. There's no contest. I'd be inclined to sell GE and buy SYF. I personally feel SYF continues to have far greater growth potential than GE.
MMP closed today less than $1 above the 52-week low. There's no support anywhere in sight. Sentiment has turned overwhelmingly negative. The whole group is going down the toilet. I don't know whether it's the result of the expected lifting of sanctions against Iran or the expectation of higher interest rates in the near future or some combination of the two. Buyers are sitting on their money. I know I am. I have a big reserve of cash that is not going anywhere until I get a clearer picture of where the MLPs are going. Buying into increasing downward momentum is a recipe for disaster. I'd rather pay more and buy when the trend has turned positive or at least sideways. There doesn't appear to be any support here, so I'll just wait and see. The more "buy" recommendations I see, the faster the group seems to go down.
New 52-week lows followed by new lows. That's a very bad sign. Lots of sellers and no buyers. Sentiment is in the sewer. We are probably seeing the end of the MLP fad. It was easy money for many years, but the party appears to be over. This could take months or even years to turn around. It has very little to do with the price of oil and everything to do with interest rates about to go up. MLPs have been a proxy for bonds, and they're crashing accordingly. Now.... do you get it?