SORRY FOR THE LATE FIRST POST...MLPS MOSTLY HIGHER..AMZ MLP INDEX BACK ABOVE 250!

Had to work this morning but we start on a slow summer day here. The overall market is higher; energy stocks as a whole trending higher and the 10 year rate is behaving under 5.25% so MLPS are higher; mostly pennies to small fractions. No news drivers at all this morning. Plains All American (PAA) Markwest Energy LP (MWE) are among the bigger gainers but mainly under 50 cents so far today. A few losers but no standouts really and all on light or non existent volume.

Just a theory on my part but 3 MLPS that have been lagging badly are Atlas Pipeline (APL), Buckeye Partners (BPL) and Valero LP (VLI). I think the common thread in these 3 MLPS is that all three have IPO's of their general partners coming anytime. Valero LP is coming out this week. I think what is happening here is that some of the big boys who are getting stock in the GP are hedging their bets by shorting the MLPS until the IPO'S hit the market. Once they start trading...my guess is there should be some short covering in these 3. Valero LP (VLI) will be the first to prove me right or wrong in the next few days.

The MLP INDEX is hitting new highs as I type...up 1 on the day so far. I am looking to establish a position in Energy Transfer Equity (ETE) for a short term trade and Holly Partners (HEP).