FUTURES STRONGER

MLP RALLY CONTINUES!

THE KENTUCKY DERBY PICKS!

Its been a very interesting couple of weeks as mlps continue to forge their way higher. Since we cracked that 206 level on the chart we have rather quickly moved to 211.

What has been particularly encouraging this week as that we've started the last 2 mornings with futures sharply lower and the markets were flat at the close on both days and even up intraday. MLPS have rallied through this and they have rallied as crude and other energy stocks haven't been doing very much. We seem to have emerged in here as a leadership group and i would look for that trend to continue. Markets to me look like they want to continue to rally.

DCP Midstream (DPM)announces an unchanged distribution which should be good enough for some upside and we also have a distribution announcement from Energy Transfer Partners (ETP). Earnings this morning are out for Holly Energy Partners (ETP) which have rallied sharply since last week ahead of the numbers. They look solid according to the press release. We'll see if its a case of buy the rumor sell the news here or not. And earnings are out after the close for Sunoco Logistics (SXL).

Stock futures are higher ahead of GDP numbers this morning at 8:30am eastern time and the fed announcement later today. Swine flu news continues but its market impact is diminishing as each day passes. Crude is up as inventory numbers weigh here later this morning.

Forecasters can't resist forecasting whether its weather, stocks, or horse racing! This forecaster can't resist all three and and all at the same time. And for me its also about the sport as i love horse racing and have had a couple of my own that have crossed the finish line. Those pictures hang on my wall proudly. This weekend we have horse racings premiere race as the best 3 year olds in the country head for the post at Churchill Downs. Here are my picks for that race. I have been totally impressed with "I Want Revenge" as he has won big like he did in the Gotham in early March and he won when he was in deep trouble in the Wood Memorial

All that being said he will be the favorite Saturday as Quality Road has scratched. You might be able to get 3-1 or 7-2 on him. I have decided to take a shot on Dunkirk. He is a lightly raced 3 year old and has been kept pretty much under wraps by his trainer Todd Pletcher. And he has not raced sinced the Florida Derby where he finished second. But he was impressive coming in second there and i think if he steps it up a notch he could be right there when they turn for home. And he will be a better price although i'm sure he will attract money. 8-1 maybe?

There are other horses in the mix that could make some noise. Fresian Fire will be pushing the pace or laying just off the pace. Summer Bird is another lightly raced colt that could benefit from a fast pace and he will be coming from way out of it. He may not have enough to win it all but he could be there making a run for place or show and should be playable for exotic bets. Among the best horses that won't be there will be the 3 year old filly Rachel Alexandra who will be running Friday in the Kentucky Oaks. She has put up speed figures as good or better than most of the perspective Derby field. She looks like a lock in that race.