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Thursday, December 03, 2009

ANOTHER DAY OF WATCHING PAINT DRY!



Not much happened yesterday other than a slight pullback. Crude took a 2 buck hit yesterday which put some pressure but the group itself was mixed for the most part. Now this morning Crude is back up a little under half a buck as we wait for nat gas numbers. Stock futures are a little higher to start the day.

Inergy LP (NRGY) is up 1.50 on premarket trades and the bids are there as well. I dont see any newsdrivers but its acting like an upgrade from a major brokerage (are there any of those left standing????) or something. Otherwise its a pretty quiet news morning with year end trading dominating the push and pulls in the group. Found this on Magellan Midstream (MMP) which has been hitting 52 week highs lately. Nothing new being mentioned; just a quick read.

I guess its all about tomorrow's employment numbers and i doubt anyone is expecting anything good which leaves the door open for another leg up.

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