Good Morning.

Busy morning as we have news coming in from several companies. First lets begin with news leftover from last night. Sunoco Logisitcs reported earnings and another distribution increase. Also leftover from last night Crosstex Energy LP (XTEX) and Crosstex Energy (XTXI) which announced another distribution increase.

This morning we have earnings news from Enterprise Products Partners (EPD) and they are very good...record earnings!

Crude is down this morning but not by much and Natural gas is rebounding from yesterday's rather large loss. Stock futures are lower after yesterdays surge. The 10 year is flat at 4.83%. Fed meeting begins today; its a 2 day affair so no news until tomorrow at 2:15pm. Nothing so far in the upgrade downgrade department but i would like to point out that Oneok LP was downgraded yesterday by Howard Weil and the stock closed higher. Thats the second downgrade in a week and its led to 2 higher closes both times. This one I think is going higher over the long term.


Short term we are getting a bit extended here. If we get a pullback to the 34 day moving average it will be a good place to get in.

We are getting very close to the all-time high on the AMZ MLP index after another up close yesterday...making it 7 out of the last 8 days.This is the weekly chart for your enjoyment.



Will we go through 270 and make new all time highs? Stay tuned.

And finally this morning a little political humor courtesy of the peoples cube.com