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Monday, March 07, 2011


We started firm with the dow up 70 points but thats all gone now and the dow is now down 80. MLPS were up up about a point on the index to over 381 but now the index is down over 2 points as we head into midday. Crude was higher but is now flat and nat gas is doing a good impression of a rallying commodity for a change as it is up 1.5% right now. We have a deal in mlp land as James River (JRCC) is buying International Resource Partners LP from Atlas Energy LP (AHD). The stock is up nearly a buck at 17 and change. Atlas Pipeline Partenrs (APL) is up 1 and over 29. Much of the rest of the group is lower however. Amerigas (APU) is among the biggest losers down over 1 point. El Paso Partners (EPB) is increasing its stake in Southern Natural Gas which has EPB down 1.45 at this point. Most mlps are down solid fractions on the day.

Avi Morris has a really interesting piece on the tale of 2 strong..and one weak. Its a very good read as it outlines quite well how two companies went down 2 different roads in the last 3 years. Also on Seeking Alpha is this piece which has MLPS on "Dividend Champions Focus."

Markets are off the lows of the day right now. Bond yields are higher but off the days highs as a little flight to safety may be occuring as stocks drop.Looking at the dow chart this pullback into support sort of looks like the pullback we saw in November that lasted about 3 weeks and held at the 55 day moving average. Maybe we are seeing a repeat performance.

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