QUIET ON THE MLP FRONT THIS MORNING

EARNINGS LATE TODAY ON DUKE MIDSTREAM

AND WHAT OF E V PARTNERS ?

We're still in a very tight trading range on the MLP index which has been sitting between 297 and 299.50 for the last 7 days. Yesteday's even close and not to far from the high of the day was encouraging. So today starts with not much happening. Earnings from Duke Midstream (DPM) are due out after the close today and they should be a good set of figures. No other corporate headlines so far this morning but its early and as of this posting no upgrades or downgrades.



EV Partners has been active recently thanks to a mention in Barrons a few weeks ago. Remember this one has already pre-announced a 6 cent distribution increase so it is priced to yield right now at just under 7%.

which means to me that there is some upside here to perhaps 29 or 30 by the time the next distribution rolls around and this assumes no other deals are done to add to numbers. A pullback to the moving averages might be a nice place to get in but lately in many MLPS trips down to support have been few and far between. We spent most of last week sitting tightly at 25.85 and yesteday we moved aboved it. So the risk is obvious...if you wait for a pullback it may never come...unless you buy here and then the pullback is a certainty (just because i'mnot paranoid doesn't mean they aren't plotting against me!) . Its never easy but i still think ultiamtely 30 is doable here in the next 2 months. BTW in the interest of disclosure i have built a position at just under 26.

I'm on the road to Boston today to take care of business so i will blog as soon as i can get to a Starbucks. Energy complex btw is down this morning as are stock futures so the morning begins with some headwinds.