Good Morning. Starting off today with the charts i could not post yesterday. To update Energy Transfer Equity was one of the few stocks in the group that closed higher yesterday on volume as it is in breakout mode. Could see a run to 30 or so.

Now back to this morning where oil is rapidly approaching 60 dollars and could see a 5 handle on it later today. Stock futures are higher and 10 year rates are favorable so its a question of whether MLPS can detach from energy.

We have some corporate news leftover from last night. Valero LP(VLI) is buying a refinery in Louisiana which will immediately add to cash flow. This might be a sign that Valero is on track for the 3rd quarter and could boost the distribution; which is key on getting the stock price to breakout of this 49-52 range its been in. Also Hiland LP (HLND)priced the ipo of its general partner last night...offering fewer shares at the mid range. This should free up HLND for a short term rally. No upgrades or dowgrades this morning so far.

So we begin another day. I successfully day traded Crosstex (XTXI) and Natural Resource Partners (NRP) yesterday and will be looking for opportunities again. Back to the XOI chart above; it is trying to hold at this 1040 level but a drop to 1000 or even piercing it is not out of the question.