THE REVERSAL WAS REVERSED YESTERDAY...ROOM FOR HIGHER PRICES?

Yesterday's rally was a nice one as the market ran to the highs of the day. Mlps which never really sold off too much the day before closed up 2 points yesterday, underperforming but i think it was a case of playing catch up.



It seems that markets want to go higher and you can sense that when you get these pullbacks. Gains from prior days are holding. Intraday sell offs are small and being met with demand. So we remain cautiously optimistic.

Crude is pushing up to the 50 dollar level where there is a bit of a wall. Inventory numbers are out today so they should be a mover. Nat gas remains depressed at 3.84 this morning and no sign of a rally there. So mlps will probably move in the general direction of the markets. No news in the group this morning and no upgrades or downgrades.

I am trying to gather some clues as to which mlps that are sitting in the land of penny stocks warrent a longer term second look. Lots of insiders have been buying lots of shares in Crosstex Energy (XTEX) so maybe the view there could be that that the company is doing everything to insure survivial. No sign of insiders stepping to the plate in the likes of Atlas Pipeline (APL) Constellation Energy Partners (CEP) and some others. Its a dice roll certainly to take a position in any of these but if you had to bed i suppose its better to go with the company where the insiders are placing some sizeable bets.