Good Monday Morning.
I spent the weekend rolling through charts and was actually strcuk by the fact that there were so many MLP charts that have either broken out or are on the verge of breaking out so lets start the day with a few of the better looking ones.



Copano LP (CPNO) just continues to dazzle in an uninterrupted uptrend that's been going on for months now. The action suggests another big distribution increase coming. The stock is very thinly traded as there are very few shares outstanding so bear that in mind if you put this one on your shopping list. 60 is certainly do-able before earnings.



Regency Partners has broken out as well and this one is a relative newcomer to the scene so its still cheap. I recomended this one at the beginning of the quarter and watched the stock jump 3 points at one point on 10/2/06. I had nothing to do with that. Somebody with deep pockets went shopping that same day.I think this one goes higher.



Markwest Hydrocarbon (MWP) is up 10% in the last 10 days and was also on my 4th quarter shopping list. This one is looking a touch extended but with Martkwest Energy doing well, this one i think also leads higher.

Another one that is on the verge of a major breakout is Atlas Pipeline Partners and a close over 46 (adjusted for distributions) puts this one at an all time high and a breakout also on the weekly chart. Now for some reason i can't seem it upload this chart from my computer. Its one of those mysteries i can't seem to solve. It works for all the others but not this one. But go here to stockcharts.com and you can make one your self. There are others that continune to look good like Oneok LP (OKS) and a few others. I'll blog on those later/

Now to Monday morning news where oil has just turned lower as i post. And here is a piece of news leftover from Friday as Teppco (TPP)has announced its distribution and its the same as last quarter which is why the stock price is about the same as last quarter. Also this morning Markwest Energy (MWE) does a priviate placement of notes.

Citigroup is on the horn this morning as it downgrades US Shipping (USS) to sell from hold. You don't see this too often in the MLP group. Nothing else on the upgrade/downgrade list so far.

Now to some weather related observations. As the hurricane season was discounted for an apocalyptic vision and when destruction did not come the energy markets sold off. Now we have the energy markets pretty much pricing in Florida like conditions across the United States this winter. Nat gas has been doing nothing but going down but i think we could be at a bottom. The media's short attention span of focus has been on El Nino but for the midwest and especially the northeast the pattern to wathc for is the north atlantic oscillation or NAO. It moves on a scale from +2 to -2 on average...sometimes peaking above or below those numbers. When the NAO is negative usually means below normal or sometimes even much below normal temperatures across the midwest and especially the northeast. Well kids its going negative for the next two weeks. And while that doesn't mean a cold winter, it does have a tendency to go negative and stay that way for weeks at a time. If this verifies look for an early and rough start to the winter in nat gas usage land. And the market has not priced this in.

If you wish to look at the national weather service longer range forecasts and see their climate forecasts bear in mind that the monthly and 3 month outlooks will be updated this week.