Natural Gas pipelines and distribution report
Eoin Treacy's view From
the 2008 lows, pipeline operators had some of the most consistent uptrends anywhere,
but the commonality which was such a feature of the sector began to break down
a few months ago. This was particularly the case for MLPs such as Energy
Transfer Partners. (Also see Comment of the Day on June
8th. Over the last six weeks a divergence has appeared between those experiencing
a continued loss of uptrend consistency and those still exhibiting relative
strength. For example Hugoton Royalty Trust
and Enterprise Products Partners remain
in consistent medium-term uptrends.
The shares mentioned in the above report appear to have more in common with the leaders. I have included them in this Performance Filter which will allow you to access the charts by clicking on the name. While some companies, notably Southwestern Energy, have accelerated higher, the majority remain in consistent medium-term uptrends and would need to take out their progressions of higher reaction lows to question medium-term upside potential.