MLPS ON A 4 DAY WIN STREAK
AS CHART CONTINUES REPAIR JOB!

Friday's solid up close puts us above all the moving averages and in position to finally clear the 310 level. We have a few things at work this week including the end of the year for mutual funds which have to close their books on 10/31. Also the fed meeting with a quarter of a point baked into the cake. And we will soon begin going ex-distribution en masse!

Its been a slow but steady repair and base building on the MLP chart so i feel confident we have the wind at our backs here for awhile.

Some news items this morning as Boardwalk Partners (BWP) posts earnings which posted a 3o% increase in net. Good numbers there for this chronic underperformer which i think one of these days will move back up. Lots of shares continue to be sold every time there is any kind of uptick here but eventually the pressure has to come off. Also this morning Alliance Resource Partners (ARLP) posts numbers and its distribution. Alliance Resource GP (AHGP) reports higher numbers and an increase in its distribution. BTW it appears to me that distribution increases this quarter as a whole are running a little higher than the last couple of quarters even when you adjust for takeovers. This is keeping a firm bid under MLPS.

So far this morning we have no upgrades or downgrades on the list. Oil approaching 93 bucks and stock futures are at the highs of the morning up 5 points on the S&P.

So i'm back from Breeders Cup which was terrific in spite of the rain. All horse players should try to go at least once in their lives. The atmosphere is terrific. Clearly the best race of the day was the Breeders Cup Distaff with an outstanding stretch duel by Hysterical Lady and Ginger Punch with Octave closing on the outside. You can watch it here at the Breeder's Cup website in case you missed it...or in case you are hoping for a different outcome. Had 2 winners in my picks and one was a 25 dollar horse (Lahahood in the Filly and Mare Turf).