MARKETS RALLY ON IBM

MLPS RALLY ON IBM?

Take your catylist from anywhere you can get it; even if its from a tech stock albeit a big one. In an enviornment where you can't even entice bids with yields 3 points or more above treasury note if IBM's pre-announcement gets people buying MLPS so be it. At least the chart of the MLP index continues to carve out some sort of base and at least the index is still above its August and December lows while the dow industrials closed below their August closing low.


Meanwhile not all MLP charts are sad. Kinder Morgan (KMP) continues to be in breakout mode and might make a 52 week high today.


Markwest Energy (MWE) also looks good on the chart as it has broken out as well. So it ain't all bad. But we need reasons to buy and maybe today we could get a well deserved long overdue rally in the overall market which will carry us along with it.

Natural gas this morning is catching a bid up 21 cents as cold weather is forecast to spread across the midwest and northeast over the next 2 weeks. Watch the nat gas mlps like Atlas Pipeline (APL) for example which could catch a bid here if investors run to anything nat gas. For a pure play there is the nat gas etf (UNG) which follows the nat gas contract tick for tick. Not a recommendation here but something to watch on your screen if you care to.


The UNG chart looks like it is breaking out of a nice base in here.

News this morning on Teppco (TPP) as it is announcing its distribution for the quarter. No change from last quarter. No other headlines and no upgrades or downgrades so far this morning. Now that stocks are moving higher oil is catching a bid up 1 dollar on crude. We will begin a slew of earnings reports and distribution increases as the next few weeks move along and we're just 2 weeks from the onslaught of ex-distribution trading...30 days from the checks going in the mail. At least there is some money coming from somewhere.