SUMMIT MIDSTREAM PARTNERS, LP is a falling knife that can bleed you if you catch it today. It delivered -4.32% to close at 12.41. During the last week it delivered -3.35% and saw a maximum drawdown of -4.98% before bouncing back.
SMLP is currently in a bearish trend. The current bearish signal has generated a profit of +17.54% for investors in the last three months.
SMLP has been outperforming the SP500 index in recent time. It showed significant underperformance (compared to the SP500 index) from 19 Jan, 2017 to 28 Nov, 2018. Over the last 2 years 11 months and 10 days, SMLP underperformed the SP500 index on 50% days. Which indicates that on days SMLP underperforms the SP500 index, it's performance is marginally worse than on the days it outperforms the SP500 index.
SMLP returned losses on 66% days in the last three months. During this time, it delivered on average -0.36% per day. It delivered it's best daily return of +8.74%, during this period, on Monday, 1 Oct, 2018. The longest stort-term trend during this period was 4 losing days, which started on 21 Sep, 2018 and ended on 26 Sep, 2018. This bearish trend lost -10.22% of investor capital.
The last 12 months saw SMLP's investors making profits in 6 months and incurring losses in 6 months. SMLP was less consistent in delivering monthly returs than SP500 index. SMLP was also a more risky investment than SP500 index as it's worst month in the last year, Feb 2018, returned -24.61% compared to -7.28% returned by SP500 index in Oct 2018. SMLP had a shorter streak of profitable months than SP500 index. It only went up in 2 straight months during the last year. It is interesting to note that both SMLP and SP500 index significantly outperform during months when quarterly/annual results are announced.
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SMLP is currently seeing overall fall in volatility. In comparison, the SP500 index is seeing increase in volatility. During the last three months, there was a significant surge in SMLP's volatility from 18 Sep, 2018 to 15 Nov, 2018. While there was a significant surge in the SP500 index's volatility from 25 Sep, 2018 to 29 Oct, 2018.
Advanced/professional short-term investors should note that SMLP has significant positive skewness in it's return distribution. This indicates that investors can expect SMLP to recover from drawdowns quickly. Which makes SMLP a good candidate for investing on short-term bullish trends or even counter-trends hoping for a pull-back.
On a general note (since you are interested in SMLP), three small cap instruments that deserve special mention are KEYS, BURL and AAXN. They have all outperformed the market and must be closely watched for investment opportunities.
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