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Wednesday, October 17, 2007

MLP STREAK ENDS....
FLAT OPEN THIS MORNING
.

We are consolidating it appears above the base breakout at 307-308. 8 day winning streak ended yesterday with a 1 point loss on the MLP index but nothing out of the ordinary in terms of movement. Oneok LP boosted its distribution by another penny to 1.01. Today we will get earnings and distribution numbers from Kinder Morgan Partners (KMP) which will be out after the close today. Otherwise its no news and no upgrades or downgrades.

Breitburn (BBEP) leads the losers list down 60 cents. Martin Midstream (MMLP) and Duncan Partners (DEP) lead the winners list with fractional gains of around 50 cents. Everybody else is somewhere in the middle.

Look for more consolidation today as the market decides which way to go. Its important that we stay above the breakout point as confirmation of last weeks move.

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