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Monday, January 10, 2011


Very quiet for a Monday morning here in mlp land. There are no news items up this morning for any of them. So i guess its another day where the market will lead the group around. We start the morning at the very top of the range and just ticks below all time highs. MLPS have been in a range between 350 & 366 since the beginning of Novemeber and the longer it takes for a decisive breakout and a new upleg, the more one must consider if the top is in at least for the intermediate term.

But until we break down below the bottom range at 350 you have to give the benefit of the doubt to the bullish resolution. But as always with these things, they make you nervous.

As i said earlier we have no news and no upgrades or downgrades so far this morning. Crude is up and nat gas is down before the open. Stock futures are 6 points lower on the S&P. Rates are flat but Europe's problems are the chatter this morning. We're into the second week of trading for 2011 and i suspect that sellers may at least try to take em down this week. Btw another snowstorm looms for the northeast for Tuesday night into Wednesday as i thank God for snowblowers!

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