BREAKOUT...UPSIDE TARGET...230!

There is no question that MLP market conditions continue to improve and we have broken out above the 89 day moving average so the first challenge comes in my view with a move up to that 230 ish top which btw coincides with the dow top at 9500 back in early October.


The 200 day moving average is up around 228 so that looms large as reisistence. Still thats another 10% ride higher from here so look for your portfolio value numbers to get bigger along the way!

Lots of distribution news which includes an increase in the distribution from Holly Partners (HEP) which Goldman Sachs meets with a downgrade of the stock today. Martin Midstream (MMLP) keeps the distribution at 75 cents. DCP Midstream keeps its distribution at 60 cents. Breitburn Energy (BBEP) is reworking their hedges in order to improve cash flow. Spectra Energy (SEP) increases its distribution from last quarter. This morning Alliance Natural Resources (ARLP) increases its distrbution this quarter and reports record earnings. Alliance Holdings (AHGP) is boosting its distribution and also has record earnings. So the news flow continues to be very good. Earnings due out this morning from Sunoco Logistics (SXL) and of course we anxiously wait to see what Atlas Pipeline Partners (APL) is going to do along with Crosstex. Markwest (MWE) holders got a nice boost from their distribution news yesterday of nearly 3 dollars. Not too shabby.

Elsewhere this morning stock futures are building on strength ahead of the fed today. Crude is flat after a 3 dollar down day yesterday. More headlines this morning as they break.

And thanks very much for all the wonderful birthday wishes you folks posted yesterday. I turned 50 and it was great...had dinner with my best friend Steve and his family..Wife could a wonderful Thanksgiving like dinner with turkey and all the trimmings. It could not have been better.