Good Morning

Markwest Energy (MWE) leads the way with news this morning as it will be developing midstream assets for Woodford Shale. Its a 4 year deal and should be a stock mover.

Other than that its very quiet this morning with no corporate news and no upgrades or downgrades. Crude Oil is down 50 cents but holding above 60 dollars. Nat gas which was down earlier is now higher. The 10 year is holding at 4.56%; the spread between the 10 year and MLP yields has widened considerably. At some point MLPS have to diverge from the rest of energy but who knows when that will happen. Its never easy!

Crosstex LP (XTEX) jumped 1 in the last 10 minutes of trading yesterday. Not sure why other than perhaps some end of quarter nonsense. Look for more of that in some other issues today.



Looking at Crosstex (XTXI). It might be under pressure because it has been such a big winner this year...profit taking for end of quarter. Right now just watching.



The chart pattern itself is perhaps a little less positive looking than it was. So for now no trading recommendations....just keeping a watchful eye on things.