Sglp - Semgroup Energy Partners

[Volatile22]

Not really sure where to post this one, but I think it is set up to make a bounce for tomorrow. SGLP plummeted 50% today while also hitting its 52 week low. I did some DD and couldn't find a reason for the sudden down turn. I am possibly thinking of getting in before the bell today in hopes of turning some quick profit in the morning. The only fear I have is tomorrow is Friday. Definitely a gamble.

EDIT - In the time it took me to write this post and set up my trade I missed my chance to get in! I would have liked to see this one turn up the chart a little better at the close, but i guess we will see what happens in the morning.

[sg1efc]

Here's some news:

SGLP Addresses Unusual Volume and Decrease in Unit Price
Thursday July 17, 8:10 pm ET

TULSA, Okla.--(BUSINESS WIRE)--SemGroup Energy Partners, L.P. (NASDAQ: SGLP - News), has been informed by SemGroup, L.P., SGLP’s parent, that SemGroup, L.P. is experiencing liquidity issues and is exploring various alternatives, including raising additional equity, debt capital or the filing of a voluntary petition for reorganization under Chapter 11 of the Bankruptcy Code.

Kevin Foxx, SemGroup Energy Partners’ President and Chief Executive Officer, stated that, “While SGLP’s parent is experiencing liquidity challenges, SGLP’s assets provide important terminalling and storage services to the energy industry. We own valuable assets in strategic locations and remain positioned to provide midstream services. Until our parent advises us of their course of action, we cannot fully evaluate and are not yet prepared to comment on how any such action taken by our parent might affect SGLP.”

SGLP derives a substantial majority of its revenues pursuant to a Throughput Agreement and a Terminalling and Storage Agreement with SemGroup, L.P. and its subsidiaries. In addition, SGLP has entered into an Amended and Restated Omnibus Agreement and other agreements with SemGroup, L.P. that address, among other things, the provision of general and administrative and operating services to SGLP.

SemGroup Energy Partners owns and operates a diversified portfolio of complementary midstream energy assets. SemGroup Energy Partners provides crude oil and liquid asphalt cement terminalling and storage services and crude oil gathering and transportation services. SemGroup Energy Partners is based in Tulsa, Okla. As a publicly traded master limited partnership, SemGroup Energy Partners' common units are traded on the NASDAQ Global Market under the symbol SGLP. The general partner of SemGroup Energy Partners is a subsidiary of SemGroup, L.P. For more information, visit SemGroup Energy Partners' Web site Home | semgroupenergypartners.

Maybe it's a good thing you weren't able to get into this Volatile?

[Volatile22]

Originally Posted by sg1efc

Here's some news:



Maybe it's a good thing you weren't able to get into this Volatile?

Yea that news makes me feel a little better about not getting in. I really have no idea how I missed it... A bit embarrassing! Should a Page Ranking such as this cause a 50% drop in one day? I still think it might pop back a little bit because most of the drop was due to panic. 50% just seems too high for something of this nature. Regardless that Page Ranking made me feel a little better so thanks again and I guess we will find out at the open!

EDIT - Why does P R get changed to "Page Ranking"? haha

[Volatile22]

Phew i dodged a bullet here. Dropped 39% at the open!!

I have played these before and been successful. This would not have been one of them.

[Volatile22]

Looks like i spotted this one just a day too soon. Was as low as 5.9x now its back to 8-9 a share.