BOARDWALK OFFERS 6 MILLION SHARES.

ANY BUYERS?

ENBRIDGE PARTNERS GETS AN UPGRADE

Lets begin this morning with a tale of 2 charts. Both charts have been going nowhere fast.




And then one day one of those companies decided to raise the distribution for the first time since since the century turned the corner and then got an upgrade from the good fairy at RBC who proclaimed that Enbridge shall be a "sector perform" The other raised its distribution as well but made a stock offering of 6 million shares. Investors in the first company lept for joy and there was dancing in the streets. Investors in the second however remain in despair as the stock continues to go nowhere fast. So the moral of the story is Enbridge may be the play going foward as they promise more increases while Boardwalk remains in the land of dead money for awhile.

Considering the damage in the overall market yesterday MLPS held up a bit better and closed above the days lows. Exterran Holdings (EXLP) puts up earnings this morning. And Enterprise GP Holdings (EPE) gets an upgrade this morning to outperform from market perform thanks to the boys from Morgan Keegan.

Crude oil is up this morning by over 1 dollar. Nat gas which has been hot lately seeing some profit taking this morning in the pre-market. Stock futures were flat ahead of the employment numbers have taken a turn for the better as the numbers were better than expected.