LINN ENERGY GETS
THE CRAMER GOOSE

MLPS don't get mentioned too often on MAD MONEY but last night Jim Cramer did talk about it extensively and recommened the stock rather strongly. If you missed it here is the video from the CNBC website. The chart of Linn has bottomed and we have seen a nice recovery from the high teens to almost 25.


The stock traded activtely in afterhours yesterday right up until the 8pm close. Look for a good start here this morning.

Meanwhile we continue to wait for this island reversal pattern in crude oil to complete itself with a gap down open and followthrough. Hasn't happened yet but we continue to patiently wait.

Inventory numbers are due out today so they will be moving crude which is up this morning by 35 cents. Nat gas continues its rally and now has a 13 handle. Stock futures are weaker and this morning we have Royal Bank of Scotland (RBS) prediciting a 300 point decline in the S&P 500 from here as the world comes to an end. Love optimists!

Western Gas LP (WES) which is a new MLP on the block is getting its first round of coverage by the brokerages. Credit Suisse says outperform, Citigroup says hold, UBS says neutral.

Atlas Pipeline Partners (APL) has broken down to a new low after raising guidance on Monday and announcing a 5 million share stock offering after the close yesterday to pay to unwind hedges. The stock dropped over 2 points to 38 in after hours yesterday. Why did the company wait 24 houts to announce the offering? Were they hoping for the stock to rise yesterday on the increased guidance on cash flow. That didn't happen as the stock was flat at best. Maybe the market smelled it out as it often does ahead of time and ultimately we would be at the same place anyway. Still it might have been better from a looks standpoint to do it all at once. Keeps the conspiracy theorists at bay. If any Atlas guys out there want to address this feel free to post in the comments section.