RECORD EARNINGS FOR NATURAL RESOURCE
MERRILL SAYS BUY ETE
TO BUY OR NOT TO BUY SUBURBAN PROPANE

Nothing worse than freezing rain and 20 degrees but that is what nyc looks like this morning. But that is life on Wall Street this morning and everyone is moving along. Merrill Lynch is on the wire this morning as it starts coverage on Energy Transfer Equity (ETE) at a buy. Stock is bidding 33 in the pre-market. Meanwhile Suburban Propane (SPH) has been on an absolute tear lately as the chart above illistrates. This post on Seeking Alpha says the run-up is great but it might be time for some caution. We don't disagree and would as always suggest waiting for a rolling correction to buy but as always only the nimble among you will succeed.


Earnings are out this morning from Natural Resource Partners (NRP) which were a record and distributable cash flow (DCF) was up 15%! The stock has run from low 50s to low 60s in the last 2 months so how much of this is priced in? We'll find out at 9:30am. No clues in the pre-market.


Nothing else happening so far this morning. Oil inventory numbers due out at 10:30am which should move the energy market. The complex is lower this morning but nat gas is higher by 6 cents.