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Thursday, October 30, 2008

220 on the mlp index looks like the short term resistence. We went up to it and have pulled back slightly. I expect another assualt and a break above it for the close. This rally may have some legs to it and the dow can go to 9700 which was the last rally high off that 900+ point gain from Columbus day.

Sunoco Logistics (SXL) Holly (HEP) Williams (WPZ) and Hiland Holdings (HPGP) are the biggest losers today...all down fractions to a point.

Winners include Oneok (OKS) up 2. along with Buckeye (BPL). Energy Transfer (ETP) Enbridge (EEP) Natural Resource (NRP) EV Partners (EVEP) and Plains All American (PAA) up 1 and some change.

Atlas Holdings (AHD) is back over 10 dollars and Atlas Pipeline (APL) up a few pennies. Atlas Energy Resource (ATN) is holding up pretty well through all of this and is up 2 points from a few days ago. Atlas Holdings (AHD) does have a piece of ATN which might mitigate any issues from course this assumes a whole lot of negatives over the next 15 months in terms of the oil price as noted by Citigroup yesterday.

Dow up 150 right now...holding its own.

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