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Wednesday, March 07, 2007


Oil and energy are leading the way higher today...the MLP index is at 301.85 up .39 and just off the highs of the day. No big winners today but lots of fractional gains including Duke Midstream (DPM) Natural Resource Partners (NRP) Boardwalk Partners (BWP) and Hiland LP (HLND).

Same story on the losing side. Crosstex (XTXI) is down .75 Holly Partners which has been ripping higher for days is correcting about 50 cents. Valero LP (VLI) and Markwest LP (MWE) are also down fractionally.
Speaking of Crosstex (XTXI) its chart is not pretty at all. It is testing support here at 28 and is deeply oversold. However i would let it prove it is bottoming here because if 28 breaks it could go all the way to 24 where there is stronger support....imho as always
Watching Lawrence of Arabia this afternoon...what a great picture!


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