Interesting price action in MLPs today. Some Twitter banter:
Either someone fat fingered a trade in $EPD an hour ago, or a BIG holder had to get out in a hurry. Seems to be recovering. pic.twitter.com/lJDe6el3oO
— Charles Sizemore (@CharlesSizemore) March 27, 2018
The narrative making the rounds is that a big institutional player had to get out by quarter end. That’s what this looks like. $ETE pic.twitter.com/sHx9pp6Y3R
— Charles Sizemore (@CharlesSizemore) March 27, 2018
If that narrative is correct, then next quarter could be fun. 2018 could end up looking like 2016 in MLP land. $EPD $ETE $KMI
— Charles Sizemore (@CharlesSizemore) March 27, 2018
Nice recovery here. Look at that volume spike when it dips. They should have used a time or volume weighted algo order. Amateurs! $EPD pic.twitter.com/EtCXJqVdtN
— Charles Sizemore (@CharlesSizemore) March 27, 2018
ETE and EPD both ended down on the day, along with most of the rest of the market. But it was a wild ride!