BACK TO WORK WITH ENERGY LOWER

ANAL-ISTS TAKING OUT THE CUTTING KNIFE

MLPS START WEEK AT RECORD HIGHS.

Okay it looks like some initial downside at the open this morning for a coupld of MLPS. Nustar (NS) which is the old Valero LP has been on a non stop run. UBS this morning has had enough and it has downgraded the stock to neutral from buy. Also getting cut after pushing over 60 last week is Hiland Partners (HLND) which was downgraded to market perform from outperform. RBC Capital Markets is the cutter here. Genesis Energy LP (GEL) which is one we don't post on too often was also cut to sector perform by RBC. Steifel Nicholas however is repeating its buy on Alliance Holdings (AHGP) and is raising its price target to 27 bucks from 25 on this one.

Hard to argue with these charts here but in case you were looking for entry points and assuming they drop that low...as always...the moving averages to me look like the logical places to put buy orders.

Of course the MLP Index has been just ripping higher and higher.

The weekly chart has not corrected at all since the up move began in late September 2006. There has been some discussion about the correction, when it comes, what form it will take. Its on the Yahoo ETP message board and its worth a read as the poster here (named "chart") will occasionally pontificate on MLPS and the faithful would be wise to read it!

Copano (CPNO) announced another purchase Thursday after the close...although it is a relatively small one.

No corporate news breaking this morning. Crude oil is down this morning but stock futures are up as we continue to trade off Friday's employment numbers which were out on a day where the market was closed. So lets bring on the open!