ARE MLPS A SCREAMING BUY?

That of course is the big question here. I spent the weekend searching MLP charts trying to find some hope. In the LP, GP universe i could only find 2 charts where the stocks were trading above the 200 day moving average. More on that later. The MLP index chart below continues to go nowhere.

The weekly chart also seems to be just treading water here but i think that so long as the market doesn't become unhinged we should get a nice rally in here very soon. What gives me some hope is that Kinder Morgan (KMP) which is one of the big boys if not "the" big boy in some people's eyes is actually trading above its 200 day moving average and its chart looks like its turning positive.

Also last week Hiland Holdings (HPGP) was up sharply after it put out 2008 guidiance that was suprisingly optimistic. It too is now above its 200 day moving average.

So on the fact that the group is about as negative as it can get and that yield spreads are at 4 year highs i think that this might be a good time to start building positions.

Linn Energy (LINE) is among the more devesated charts as we sit at 24 and yielding nearly 10% based on a pre-announced q1 distribution. This to me is one of 2 things..either a screaming buy or the market is telling us that the q1 distribution hike is not going to happen. So its a roulette wheel bet here. If everything is okay Linn heads back to 30 in a hurry..if they don't hike we will at best sit here or more than likely fall some more. Place your bets players!

This morning JP Morgan is starting Penn Virginia Resources (PVR) and Penn Virginia Holdings (PVG) at overweights for both of them. No other news this morning. Its all about the fed this week and they better do the right thing!