4 UP DAYS IN A ROW...SHOOTING FOR 5

CROSSTEX (XTXI) GETS A BUY NOD

AND WILL WE EVER GET A CORRECTION?

Friday has arrived and we are shooting for our 5th up day in a row. There is no corporate news to move the group along this morning. We do have Goldman Sachs upgrading Crosstex Energy (XTXI) to a buy from a neutral. The stock has been trying to hold the 28 level as support and that appears to have been successful so far. Looks like the Goldman goose should bring this one up a bit today. AG Edwards is downgrading Penn Virginia Holdings GP(PVG) from buy to hold. Goldman also reiterates its buy on Buckeye Holdings (BGH) and raises its price target there by 2 dollars to 25 dollars.It is reiterating its neutral stance on Enterprise Holdings (EPE) and Valero GP (VEH) although it is raising its price targets on both issues.

Here are the daily and weekly chart of the AMZ MLP index. I would just like to point out something first on the daily chart.

Notice that it has been 3 months since we last touched the 34 day moving average. That bar down a few days ago is an error. We did not trade near 300 this week at any time. So I think we should at least begin to prepare for some sort of short term correction in the group that could come at any time. I want to emphasize however that i believe that it would be just that...a short term correction similar to the late December early January move.


Meanwhile the weekly chart shows no sign of a top which is why i would not be concerned about any pullback and that it would be another buying opportunity.

Crude is down this morning after yesterday's big rally. 10 year rates are sitting at 4.59% this morning after moving higher yesterday. Stock futures are flat pre-open. So sit back and lets work through the open.