TC PIPELINES DOES AN OFFERING

One positive thing about these equity offerings we're seeing is that they are coming from a position of strength for alot of mlps. Rising equity prices means a strong currency for them so they are using that to raise money. In normal times it has paid off to add to positions during such times as they then move to higher highs. Lets hope we continue on the road back to normal times. T C Pipelines becomes the latest to offer shares and the stock is down 2 dollars in the pre market.

MLPS behaved well yesterday as the market took 92 points of gas. Sometimes we play catch up to the primary trend the second day and energy is softer this morning. Energy stocks got hit pretty hard yesterday which makes the outperformance a bit more meaningful. Stocks look a little higher at the open. Its Friday and usually Fridays tend to be a little slower than other days. Crude is down and so is nat gas. Nothing much else going on. Dollar is nwo down agains the euro and pound so that might provide a driver if the dollar sells off.

TC Pipelines btw just now priced its offering at 38 dollars.