END OF QUARTER APPROACHES!
Starting this Monday morning and we have higher futures. Mistakenely mentioned that Friday was the last day of trading for settlement in Q1. It was actually the next to last day...today is the last day! And as is usually the case with MLPS quarter ends are rather quiet from a news perpective.We started Q1 at 285 on the index and peaked at 305. Now we're at 296 up 11 points or a little over 5% plus distribution. Not bad and certainly the torrid pace of rising prices of 2009 is clearly slowing down. No one should be surprised. It was easier starting from 175. We cant go up 100 percent a year forever.
Linn Energy (LINE) is buying up properties in the Permian Basin for 300 million bucks. The company will be using its revolving credit facility to pay for it and says its immediately accretive upon closing. Stock is trading up a few ticks in the pre market. Wunderlich this morning upgrades Inergy Holdings (NRGP) to buy from hold with a 78 dollar price target. A little late to the game here?
Stock futures are up nearly 8 above fair value on the S&P. Bond rates are higher and we continue our approach to 4 on the 10 year. Lots of data this week to look at including employment numbers Friday with the stock market closed. MLPS will be looking to getting some kind of tailwind. The 300 level has been tough (no surprise here). It could be end of quarter noise but its wise to keep a cautious eye in case we are at the beginning of a longer term leadership change...or at least some sort of sideways consolidation in the group.
Linn Energy (LINE) is buying up properties in the Permian Basin for 300 million bucks. The company will be using its revolving credit facility to pay for it and says its immediately accretive upon closing. Stock is trading up a few ticks in the pre market. Wunderlich this morning upgrades Inergy Holdings (NRGP) to buy from hold with a 78 dollar price target. A little late to the game here?
Stock futures are up nearly 8 above fair value on the S&P. Bond rates are higher and we continue our approach to 4 on the 10 year. Lots of data this week to look at including employment numbers Friday with the stock market closed. MLPS will be looking to getting some kind of tailwind. The 300 level has been tough (no surprise here). It could be end of quarter noise but its wise to keep a cautious eye in case we are at the beginning of a longer term leadership change...or at least some sort of sideways consolidation in the group.
joseph cioffi's Source Page - Associated Content
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