DUKE MIDSTREAM BUYS MORE ASSETS
MLPS HOLDING FIRM

After the close last night Duke Midstream buys up more assets and they're doing it with a private placement so no new equity coming out here. Stock has been one of the out performers in MLP land so look for more upside today. Meanwhile yesterday's 2 point gain in the MLP index stopped the downward drip we've been since last week.




There is so much underlying strength in here that MLPS just can't go down much before new buyers arrive. So yesteday's 2 point gain puts the index back over 330. While i thought we would head down into the moving average support levels starting at 326.65 the recent action looks like we may be having a trading range correction and just go sideways. Its all about evolution in here so we'll see what today brings. I guess i wouldn't be surprised to go back to 336 again.

Not much else happening this morning so far in the news department and no upgrades or downgrades the report...at least for now.

My guess is look for follow through upside on Atlas Resource (ATN) and Atlas America (ATLS) after there big deal news yesterday...if they pull back at the open..it might be worth buying for a trade.