EARNINGS AND DISTRIBUTIONS CONTINUE TO MOVE ALONG!

We are continuing to see some distortions from day to day given the ex distributions that impact the value of the MLP index. Meanwhile we have earnings news this morning from Holly Partners (HEP) which was a record. K-Sea (KSP) reports earnings which missed estimates by 45 cents but these misses dont always have meaning. Oneok (OKS) reported after the close last night with earnings and they affirmed (again) 2010 guidance. And while Kinder Morgan (KMP) gets the Cramer goose on Mad Money, last night Copano (CPNO) got a mention and the stock is up sharply this morning in the pre-market. And finally back to earnings Linn Energy (LINE) puts up earnings numbers.

Exxon Mobil's (XOM) earnings were a tad short this morning and this could be a driver of energy stocks this morning while Chevron(CVX) and Conoco Philips (COP) are higher so there could be a balance there. Stock futures are higher this morning ahead of the open with the dow showing a 50 point gain and the S&P up 9. Crude is higher and nat gas is a little higher ahead of the open. Markets have come off well from the Fed in action and all the Greece news so the line of least resistence remains higher.