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December 29, 2012

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Week Thoughts: MLPs Return Last Week's Christmas Present

MLPs were up 2.3% last week, then down 2.3% this week, so we’ve just basically given back the pre-Christmas present we got last week…

Returns

Just one more trading day left…it will certainly be good to say goodbye to this year, and hello to a fresh start, even if that start is from the bottom of a cliff.     The MLP Index will finish up for the year, but only by including the distributions.  Commodity prices were up for the week, with oil up 2.3% and propane up 6.8% for the week.  Its been a pretty ugly year for liquids this year, including oil, but at least natural gas has shown a bit of life of late.    I’ll be brief with this post after my posting binge yesterday (2012 Prop Bet Review and 2013 Prop Bet Lines).  I expect to do a mid-week review of the final numbers for the year, so look for that amidst all the meaningless bowl games on New Years Day…
Weekly Review_12-28-12
Winners & Losers
RNO led the winners this week.   The other distressed coal MLP (OXF) was down big again.  WES made a rare trip to the bottom five.  NRGY had a positive week after leading the losers last week.  Virtually no news this week and light volume all around, so not sure you can make anything of these moves.

Top5Bottom5MLPs_12-28

With the big drop this week, CLMT is making the race to be crowned the biggest winner of the year a close one.  MPLX popped into the top 5 this week, replacing TLLP.  With their big weeks, RNO and NRGY escaped the bottom five, replaced by BPL and EROC.

Top5Bottom5MLPs_12-28_YTD

 GPs and variable distribution MLPs, on the right of this chart, have been the big winners of the MLP space this year.

MLPs_World_12-28_YTD

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