ITS SEPTEMBER OF 2008?

After all the turmoil we seem to be moving headstrong in mlp land to early September pre-Lehman days as the index has broken above 250 and that means that we should head eventually in this rally back to 260-270. Credit markets continue to mend. Corporate bonds are rallying and we are seeing deals beginning to appear again in our space. There is reason for optimism even after an almost 50% gain since last Christmas!

Speaking of deals Magellan Midstream (MMP) is picking up some assets out of bankruptcy court
and they also announced their distribution yesterday which had no quarter to quarter increase. And you have to love E V Partners (EVEP) which for the second quarter in a row increases their distribution by one tenth of one cent! " Who loves you baby" Targa Natural Resources (NGLS) is doing some business with Targa Natural Resources. We also have earnings from Alliance Resource Partners (ARLP) which include a distribtuion increase. And what's good for the LP is usually good for the GP as we see a distribtuion boost for Alliance Resource GP. And Regency Partners (RGNC) puts up its distirbution announcement for the quarter. Pretty busy morning on the news front.

Stock futures begin the morning lower and there is a down day out there somewhere. Energy is lower across the board. Nat gas of course is lower as well because it only just goes down! Nothing on the upgrade downgrade list. So we proceed to what appears to be a weaker open and then we'll see where we go from there.