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Wednesday, February 16, 2011


So much for the rounding top as another upleg has begun here. It looks like 400 might be the next stop for the mlp index here as long as the overall market tailwinds continue. Technicals look pretty solid in the group and now the leadership seems to have shifted to the lower end where those stocks have been making some nice perentage gains lately.

Atlas Pipeline Partners (APL) and Crosstex (XTEX) have shot up recently. Buyers of Atlas Pipeline has been moving ever since this story that hit on January 27th which detailed changes in their hedging. No recent news on Crosstex (XTEX) other that they increased their distribution last month. Still these 2 have moved up nicely and Atlas is up 5 fold off the lows. However also bear in mind that they are both well off their all time highs.

Calumet Specialty Partners (CLMT) announces earnings this morning. The stock is bid higher in the pre market. Here is another mlp that has lagged a bit but with refiners as a group doing well lately, this one may have some room to go higher. No other news this morning on the tape so far. No upgrades or downgrades. The distribution cycle is winding down and your checks are in your accounts or in the mail. Stock futures this morning are nicely higher and it looks like the market continues its slow deliberate melt up. Nat gas held its low yesterday and so now we watch there to see if that has any meaning at all. Bonds are flat this morning so it looks like the market is okay with rising rates with 4 on the 10 year and 5 on the 30 year the new walls to watch.

Sorry for the lack of posts yesterday as i was on a double shift which makes posting a bit difficult.


neptune said...

Anybody care to offer some thoughts on K SEA Transportation. The shares have gained significantly on way above average volume recently. I thought this company was left for dead.

joewxman said...

Not much that i could find newswise here. A lot of the smaller priced players have been on the move lately. Not sure if thats the reason.