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Thursday, January 06, 2011

RBC MAKING MOVES!



RBC is raising its views on Legacy Partners (LGCY) lifting the target price to 34 bucks. and on EV Partners (EVEP) to outperform. EV Partners is showing a few trades at 40.30 this morning. Not much else is happening this morning in MLP land where it looks like a flat open in the group. Yesterday we closed a little higher and we are back to withing one solid push to a new high close. The slow melt up in the overall market continues with stock futures a little higher this morning. Jobless claims were about in line. Its all about the employment number tomorrow and i think the market has a good number already priced in. Crude is down ahead of the open and nat gas is up. Nat gas numbers out at 10:30am and i think that market runs on any bullish number. Also weather continues to show cold for the next 2 weeks.

My primary concern for MLPS remains rising rates. The 10 year is near 3.50% and i think the market will take notice if it solidly breaks through that level. Not much else happening this morning. The open looms shortly.

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