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Tuesday, February 01, 2011


So far that's all it was last Friday when the dow dropped 160. We got a third of that back yesterday but the big winners in all of this has been energy stocks which have took off. If the middle east decends into chaos, our own oil becomes that much more valuable. So those stocks were up sharply yesterday as they barely sold off last Friday. MLPS become that much more attractive especially with the yield play and they are back up bumping against new all time highs. So it looks like the bulls have another shot to clear 12,000 on the dow and 375 on the mlp index. And unless the interest rate market throws us a curve ball, or some mideast country really goes insane, the bulls have control.

Martin Midstream (MMLP) is picking up more assests as announced yesterday. Today we have earnings from Inergy LP which hit another record. Nustar (NS) puts up earnings that had record DCF and here is the transcript from the conference call thanks to Seeking Alpha.

Stock futures are starting the day higher with crude and nat gas a little lower. Rates are a little higher as the 30 year is back to 4.60% Still waiting for the upside breakout there which may come with jobs data tomorrow and Friday. Or maybe not. The dollar is lower this morning. Let the bull charge continue...for now.

Sorry about no posts yesterday as i had a death in the family and had a funeral to attend. I didn't get back until late last night.

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