ALL IS QUIET ON THE MLP FRONT

Maybe one Monday morning we'll wake up to one to a deal in the MLP space with so and so taking out such and such at a 10 dollar premium so that there will be much rejoying and dancing in the streets...but today ain't that day. Its quiet this morning as we have no headlines. The bulk of the group has gone ex-distribution so that is behind us and the checks will be in the mail in the next few days. And there are no upgrades or downgrades to speak of so far so I guess we will trade off the overall market trend...which this morning looks flat. The energy complex is a little weaker so not much to move us there.


Actually we have headlines crossing now that Linn Energy is buying up more assets that will be accretive but unlike other prior buys the company is not pre-announcing any distribution increase.

The MLP index daily chart is correcting but the good news is that if it doesn't get out of hand we should pull down to the 322-323 area and find support there. And that is only 5-6 points below where we are now or a little less than 2%. And the weekly chart remains in a bullish uptrend so i am not worried for the time being.

Finally this morning this horse is going to win the triple crown this year. Street Sense is the real deal off that incredible performanc in the Derby.