We start the day with higher crude prices this morning as we get back most of yesterdays 1 dollar loss. Nat gas holding its own after yesterday's "winter is over before it started" drop. Ten year rates are flat at 4.43% and MLPS will probably open higher again.
Meanwhile the upside continues and based on the weekly chart i still see no sign of a top here but i think at some point we need a shakeout. Still the momentum in this group remains very strong so rather than to try and pinpoint when a shakeout will occur...i'll just let it happen when it happens and just let the upside continue to run its course.
This morning we have some more anal-ist moves as Goldman starts Eagle Rock Partners (EROC) at a neutral. And it ain't much but Friedman Billings raises its target price on Natural Resource Partners from $76 to $77 dollars. Actually HSBC is busy on the coal stocks as it starts Arch Coal and Peabody Energy at overweights so lets see if attention on coal today moves NRP and also Alliance Resource Partners (ARLP). No other corporate developements so far this morning.
joseph cioffi's Source Page - Associated Content
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