Also the right shoulder is lower than the left shoulder which makes this head and shoulder pattern look really ugly and bearish.
54.04 then we will head all the way down to 36.15.
Not sure of the target price yet but if we follow EPD and MWE we have a long way to go the yield is way to low for this stock as rates will eventually rise and that is what will put pressure on this stock.
All MLP's breaking down ETP especially EPD is not being spared either projection EPD to fall to at least 24.20 before this is over based on the neckline and head of the head and shoulders topping formation.
buy the dip sell the rip
Were moving big time now not sure why it was,nt much higher before looks like they waited for the merger they could have had ETP at much lower prices, but still yielding at least 6.7% right now not much better out there for a company who has never cut it's distribution.
Oil is going up and the pipeline MLP's are going up big time don't miss the boat.
53 plus by next week.
you also need to factor in that this is a levered product at 2 to 1 and when it goes up say 10% the ETN will be required to purchase more shares to equal the new levered amount of 110%
which now becomes 220% vice 200 % you started with and your dividends will go up by said amount of new shares purchased
easy money oil has bottomed and the panic and fear drove down many of theese MLP's way to far. Now it is time for them to go back up again.
I thought the same thing as you, so I called UBS and they told me since it was a levered product they have to maintain a 2/1 ratio of leverage as the stock price goes down they must sell shares in the etn likewise when the shares go up they will buy more for the ETN so it will average out as long as you hold this for the long haul
much appreciated if anybody knows something .
.995 x 4 = 3.98 divided by stock price gives you 7.21 % if it keeps raising it it's much greater please tell me where to get over 7% and a stock who has never cut thier distribution since it started trading back in 1996 thats 19 straight years of no cuts in distributions nothing better out there.
for a 10 dollar per barrel profit.
You forgot to mention why they could afford to do this PAA is sitting in the sweet spot right now on the oil contango going on they have huge storage capacity for oil and are taking full advantage of locking in thier profits. Basically how it works is you purchase oil at todays price then you hold it for about 6 months and you sell it back for a 10 dollar profit per barrel, better than any toll revenue on the pipes as this is 100% guranteed no possibility of a bankrupt or defaulted company not paying it's toll fee on thier pipes.
as more and more projects become profitable and come back online there wil be a need to build more pipes to transport it, I see a bright future ahead of us and large gains in PAA
I think we are looking at some real nice gains ahead as oil and nat gas go up more drilling will come back online and therefore a need for more pipes to transport it all.
Did you buy my shares somebody got sliced and diced told you to watchout for that breakout need to sell the rip and buy the dip.