Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Crosstex Energy
So what: Yesterday, Morgan Stanley
Now what: Joining an index can cause a temporary pop for shares as funds following the index buy shares. But the bigger news today was the upgrade from Morgan Stanley, which has driven shares higher. I'm leery of buying on pops because of an analyst, especially from a company losing money every quarter.
Interested in more info on Crosstex Energy? Add it to your watchlist.
Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
More from The Motley Fool
This Is What Fueled EnLink Midstream’s Double-Digit Rally in May
Earnings drove both EnLink Midstream and its MLP, EnLink Midstream Partners, up sharply last month.
How Might the Abysmal Oil Market Impact Devon Energy Corp. This Quarter?
The oil and gas producer is expected to report its first-quarter results on Tuesday evening.
EnLink Midstream Earnings: 3 Things All Dividend Investors Need to Know
Learn the three most important things to look for in an MLP's earnings report and whether this high-yield MLP has what it takes to make a strong addition to your portfolio.