June 24, 2015: I'm not the only one playing this game. Investopedia suggests Kinder Morgan might be a better option for WMB. If they're not careful, Warren Buffett will step in.
I'm not going back to find the story or find the link, but there was a quote suggesting that ETP CEO had hoped that energy prices would continue to fall once he had made the decision to buy WMB.
Think about that for a moment. He's been working on the deal for six months they say. Over the weekend, they pounced.
The swirling tea leaves suggest that someone thinks energy prices just got about as low as they were going to get.
Yesterday, oil was coming down a bit. There were stories that the slowdown in China was tapering. Crude oil dropped a bit in early morning trading and it certainly looked like short term, prices were coming down, and long term, prices would continue to fall, or at best, level out.
Surprise, surprise. Oil is up 1.5%, over $61 in a "stunning" reversal. Of course, this is all idle chatter; we're in a trading range.
What is not idle chatter is the fact that the Bakken-WTI spread, apparently, has narrowed.
Meanwhile, ATT Is Hot
MarketWatch is reporting: ATT surges 3%, heavy volume; price target to $39 from $34. DirecTV acquisition coming along.