BOARDWALK EARNINGS HEADS

DISTRIBUTION WEEK!

This is that week every three months that brings about those ex distribution days and mlps tend to stay firm ahead of the ex dates. Boardwalk Partners (BWP) which already told us they are boosting the payout by half a cent announces earnings this morning. I dont see anything unusual in the press release other than high costs and taxes offseting a revenue increase. Reuters reports they missed estimates. Usually there aren't many surprises in these things but we wont know until the open. Capital Products Partners (CPLP) announces its distribution which is unchanged from the previous quarter. And this leftover news item from Friday as Teppco (TPP) approves the Enterprise Products Partners (EPD) takeover. I know a few of you arent thrilled but both mlps are up since the deal was announced.

Wonderlich is upgrade Buckeye Holdings (BGH) to buy from hold. Stock has had a nice run from its lows. In fact it has doubled in price ever since the takeover offer at 14 was pulled of the table at the market bottom. Not much else happening this morning. Stock futures are a little higher. Oil is a little lower. Nat gas is also selling off this morning. The dollar is weaker across the board.



The charts this morning show no real change in this stairstep rally we have been in and a dow pullback to 9800 would bring us back to logical support. No sign of a trend change and no sign of a top yet in mlps.