We begin this Thursday morning with distribution news fron Natural Resource Partners (NRP) which is boosting its distribution by 3 cents and issues guidance for 2007 which looks pretty optimistic. This comes on the heels of last nights Kinder Morgan Partners distribution increase. So we're on are way and MLPS begin the day coming off its recent 3 leg correction.
Looks to me like we are about to embark on another up-leg here with comfirmation coming if we break out above the 287-288 area with volume. I still think 300 is a reasonable upside target here.
Meanwhile here is the crude chart which has now reached a level where a logical bottom place could be forming although its hard to say whether the sell-off is done or not.
I guess this is one of those watching and waiting nervous points in the crude market. Its down a few pennies this morning and now as i post it has just moved a few pennies higher.
Nothing in the upgrade downgrade department this morning at least so far. I'll be keeping an eye this morning for any developemts. The 10 year rate starts this morning at 4.78% and has ticked up to 4.80 on the inline cpi number.
joseph cioffi's Source Page - Associated Content
No comments:
Post a Comment