TERRIFIC CROSSTEX EARNINGS

AND WHERE TO FROM HERE?

Crosstex Energy (XTEX) posted earnings numbers this morning which really look excellent. Of course the market will tell us later today but we have revenues up 50% and the distribution coverage is a very high 1.61. Of course the outlook is what is important and the conference call is later this morning.

Yesterday was an interesting day as the nat gas inventory numbers sent it soaring along with oil. That coupled with E O G Resources (EOG)boosting its outlook which sent it's stock up 20 points...and suddenly anything gas or energy took off...and that include us lowly mlp holders. Follow through today might be nice but we'll have to chew through what will be a negative open for the overall tape. BTW on Wednesday one of the big brokerages downgraded EOG...nice call for someone who should be unemployed.

Charts are inconclusive here. Its sort of day to day in the markets overall and as long as that is the case MLPS can attempt to make progress. But we need to break out of this base and that means a close over 310 on the index. We're far away from there.

BTW the unholy trinity has violated its rule 2 days in a row. Looks like there is hope out there. No upgrades or downgrades so far this morning. Headlines as they break.s