END OF QUARTER END OF HALF

A good first half of 2009 for those of us who reside in MLP land. We began the year with the index at 176 and we are now at 222 up 46 points plus 2 payouts. That works out to a 26% gain with total return over 30 percent. Not too shabby. Crude has rallied back to about where we started 2009 and Nat gas continues to bounce along a bottom as it has not rallied at all and is down nearly 50% since the beginning of the year. I still think that nat gas is the play for the second half.



Look for end of quarter games to go on today and that could boost up some prices as portfolios get dressed up for inspection. RBC Capital raises Legacy Reserves to outperform from market perform. Otherwise we have no corporate headlines today. Crude and nat gas are running a little lower ahead of the open with stock futures flat but its early in the day.

Tropical Weather will be an issue one of these days but maybe not today as the tropics look about as dead as they could be. But then again this time of year usually is a quiet period even in the most active of seasons.