MLPS MAY CONTINUE TO DIVERGE

AS BUYERS LEND SUPPORT!

Barring a complete market meltdown today or a big spike up in rates on the 10 year MLPs might continue to move higher for a couple of reasons. One is energy is higher today across the board which will probably lend support. Oil is approaching 70 bucks. The second reason again in my book is that the game changed on Tuesday when General Electric took a big stake in Regency Partners (RGNC). This gave a green light to MLPS and i think new all time highs loom on the AMZ MLP index as we sit less than 2% away.

And indeed we have a a flat open that has now turned higher for the group. No standouts in the early trade as most moves are small fractions in either direction. Morgan Keegan is giving a goose to Boardwalk Partners (BWP) starting it at a buy. No corporate news driving any particular stock so lets wade through the first half hour noise and go from there.