SEMI-HOLIDAY ATMOSPHERE,

MLPS LOOKING TO EXTEND RALLY

We have Columbus Day in the US, Thanksgiving Day in Canada, and Sports Day in Japan so trading might be a touch subdued. Still for those of us around today we will be keying on last week's powerful late week reversal and and see whether it continues today. Charts and technicals are short term bullish right now so the first challenge will be to get above the 2oo day moving average which sits around 305. Also the 34 day moving average which i watch for short term support is at 302.

Now i have to admit i have never quite grasped the point and figure chart but for those of you who like to use it, i would point out that it has a bullish projection on the MLP index of 360! First things first we need to get above some short term support lines but we seem to be heading in the right direction and the August closing low of 290.80 has been successfully re-tested.

A couple of side notes. Steve...or for those of us who love him "LUMPY"...has been tireless in his maintainence of the YAHOO MLP RESEARCH GROUP. He religiously uploads all kinds of research goodies but was concerned that no one was using it. Well it seems many of you lurk quietly behind the boards and are using it. For those of you who sent emails acknowleding this behavior and thanking Lumpy for his work...good for you. You were brought up right! For those of you who haven't...a thank you note is in order! And for those of you who haven't been there the link is highlighted a few sentences back and its on the blogroll. There is some good info posted there that could answer many of your questions about what some "experts" think about your favorite MLP.

Its quiet this morning in MLP land but we do have Inergy (NRGY,NRGP) finishing a takeover and announcing 2008 guidance. It looks bullish for the company but we'll see if it is priced in. Lately we know that good news hasn't exactly lifted individual issues. No other corporate developements this morning and no upgrades or downgrades.

Some of you have been posting about upcoming MLP IPO's. Factoids who has probably the best mlp info website around has info about ipos coming up soon. Check out his site if you haven't already. No MLP investor should invest without it!