FED DAY AND STOCK OFFERINGS!

The fed will speak today at 2:15pm and hard to imagine any revalations today that will move markets violently in either direction. There could be a relief rally in bonds setting up and maybe once the fed is out of the way stocks may finally do something other than trade in a tight 30 point range every day for over a week now.

MLPS actually managed a 2 point gain yesterday led by Nustar (NS) which is over 70 and at new all time highs. This morning Williams Partners will be under the gun as it comes to market with a stock offering. Its bringing 7.5 million shares to the table and the stock of course is down 1 and change in the premarket. The chart below shows us that the stock has tripled from its bear market low. MLPS continue the trend of coming to market with the ability to sell shares at a good price.

Regency Partners (RGNC) is announcing it is expanding in the Eagle Ford Shale project. No pre market trades or indications on where it will open. Otherwise thats it so far on the news front and we have no upgrades or downgrades to speak of. Stock futures are flat to a little higher and i would suspect we'll be watching paint dry until 2:15pm. Nat gas is down as is the dollar. Bonds are down and yields up on PPI and retail sales which were hotter than expectations.