As most of you know, Kinder Morgan has been under attack by Hedgeye analyst Kevin Kaiser, the same same guy who bashed Linn Energy a few months ago. I believe the scheme here is to drum up negative attention to make profits on short positions. Hedgeye is actually pretty clever in my opinion, they are intentionally picking on difficult to understand MLPs. MLPs are pretty good targets for scare tactics because I don't think most investors bother to do much research. Does the average investor listen to conference calls, read annual reports, or check financial statements? I think not. Pretty easy to scare retirees who bought KMP on a recommendation as a safe income source.
So maybe KMI continues to slide, I sure don't know. But I think I got in at a price that will serve me well over the long term. It's not the best price I've ever gotten with Kinder, however it will reduce my average cost basis. I'll take that.
I'm probably not going to buy anything else this month with the possible exception of TGT or maybe BAX. I'm watching TGT very closely.