PLAINS ALL AMERICAN BOOSTS GUIDANCE

After the close yesterday Plains All American (PAA) boosted guidance for the year and they raised their distribution guidance for the year. Morgan Keegan notices and raised PAA to outperform from market perform. Sometimes this stuff moves mlps and sometimes it doesn't But i will be optimistic.

Crude overnight briefly traded below 125 before rallying and is now up 1 and change and near 128. But this market has been nuts and who knows where it will be later today. Plus this may not necessarily be a positive for energy stocks which we have noticed lately days when crude is up and big energy is down and versa visa...i mean visa versa. My guess is a bounce for energy stocks at the open and then we'll see if sellers take over. And mlps yesterday on the whole were higher as the index closed up over 1 point while the rest of energy was down 2 to 3% in some cases.

Its Friday kids and the last day of the month and we are near 200 day moving averages on many charts so this could be one of those days. No other corporate developements and no other upgrades or downgrades. Standing by for the open.