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Wednesday, February 02, 2011


Its been a frustrating trade with an upside bias but it seems to me that if the markets are worried about a disruption of the flow of crude, does it not mean more demand for domestically produced nat gas? It may not make practical sense in that you can't just flip a switch and suddenly your using nat gas. But if you buy into the idea of an economic recovery of substance, i would think that would mean for increase demand. Anyway for the nimble among you it looks like higher lows on each trip its probably time to try for the top of the range and maybe..just maybe.. a break above it.

MLPS did okay yesterday on a spectacular day for the market with the dow up 140 ish and S&P up 20. We took out 12,000 on the dow and 1300.00 on the S&P. MLPS are just under new all time highs. Markets look to pull back a touch this morning but nothing problematic as everyone watches Egypt.

Magellan Midstream (MMP) puts up earnings and it was a good quarter with record DCF. It might wind up being buy the rumor sell the news. Not much else on the tape this morning and no upgrades or downgrades. Crude is up wiht nat gas. Rates are a little lower.

Dealing with an ice storm this morning. Snow is far easier!

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