Good Thursday Morning!

It looked like we were staring into the abyss mid morning yesterday when the XOI was approaching 1020...last week's low and then they spun them around and rallied. The rally continues this morning as Crude nears 61 dollars after breaking 58 yesterday. Saudi's cutting production the market mover today. So we should at least open higher and extend gains from yesterday.



Some news this morning on Teppco. Apparently a pissed off unitholder has filed a lawsuit in Delaware saying that the proposals in the September 11th proxy statement are unfair to Teppco holders. I'll post a link as soon as i get one. It has to do i believe with the changing of the splits with GP which was announced a few months ago.

We have coverage started for Boardwalk Partners by RBC Capital Markets with a buy recommendation.

Markets just open and energy and MLPS open higher for the most part. We'll let the open settle out and post again shortly.