STILL NO SIGN OF A TOP IN MLP'S.
Another all time high close on the index yesterday although there was some profit taking in the last hour and a half that took the index from+2 to a less than 3/4 pt gain. This morning Ferrellgas (FGP) came out with earnings that beat estimates. We'll see how it plays. Meanwhile no upgrades or downgrades this morning...the 10 year is holding at 4.48% with tomorrow's employment numbers looming. Until proven other wise the tone is positive although a correction could come at any time.
Energy Transfer Equity broke out to new highs yesterday on volume. Clearing 30 is important and i think this one could be in the mid 30s by the end of q1 of 2007 imho.
No upgrades or downgrades this morning so far.
joseph cioffi's Source Page - Associated Content
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