UNIT OFFERINGS,
THE UNHOLY TRINITY,
AND THE VIRUS ISSUE!

The last one first...there has been a virus issue with this blog lately and it has to do with my ad supporter and one of the ad placements. I have removed it and it should no longer be an issue. I am sorry for any inconvienence.

Okay last night night we got news from Kinder Morgan(KMP) and Enbridge Energy(EEP) which are both doing unit offerings. Kinder Morgan stock price is near a 52 week high so its a good place for them to sell units. Enbridge (EEP) has been going sideways for years now so there is no change here.


Note that were it not for Kinder Morgan the MLP index chart would look far worse than it does.
The basing pattern continues but i would look for the index to be lower today. But this time it may not necessarily reflect what will be going on in the group thanks to those 2 heavyweights and the distortions the stock offerings will cause.

Brokerage houses have been coming out lately touting MLPS especially Raymond James who are usually good at making the right calls at the right times so i would pay attention to them when they upgrade or downgrade. The Williams (WPZ) call comes near its 52 week low and the stock has rallied finally. This morning we have Citigroup starting coverage at a hold (what ever that means since you have to buy it first before you could hold it...or it means you hold while i sell.) Lehman starts Williams at an overweight.

Finally the unholy trinity of Linn, Constellation, and Eagle Rock all closed higher yesterday which violates the theory that it is impossible for these 3 companies to trade higher together on any given day. If we can't depend on this theory than what can we depend on? Actually its nice to see Linn finally acting better after weeks of unrelenting selling. Now if only the other 2 issues here would bounce.