CROSSTEX PLACES SHARES

ANOTHER UP OPEN

In a sign that not all is dead in MLP land Crosstex (XTEX) does a 3 million share placement of equity with Kayne Anderson and others at 30 bucks a share. They went to the well recently with a public offering so it would not have been in good taste to it again so soon. But its nice to see some interest and this is an MLP whose distribution coverage is pretty high. Stock is flat after opening higher.

Speaking of opening higher the MLP index has done it again and is continuing to run up against old support which has become resistence which is at 290 or so. It will break above that probably when the overall market takes out 12750 on the dow. Still sorting through the open and Atlas Holdings (AHD) and Atlas Resources (ATN) lead the way higher up major fractions. Copano (CPNO) is the biggest loser right now down 33 cents.