ENTERPRISE PRICES ITS OFFERING!

High prices mean currency and MLPS have begun to go to the well gain. Enterprise Products Partners (EPD) becomes the second MLP this week to go to the equity markets with a seconday and they priced it this morning. I would expect to see more with prices for many mlps near all time highs. Crosstex Energy (XTEX) is doing a convertible preferred offering with the shares priced at 8.50 for conversion purposes. Since they dont have the currency; this is the next best thing.


This morning we have what looks like a softer open in stocks and a bit softer in oil and gas as the dollar rallies. I still maintain we should watch for a sharp correction in here but who knows what will set it off. Maybe next weeks options expiration, maybe its tomorrow's employment numbers; who knows. I do know we've seen a rush into mlps that began a month ago and that trend can't go on forever. But it can go on long enough to get us to 300 on the index.

Okay kids the open looms shortly.