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Thursday, September 01, 2011


We have upgrades this morning from Wells Fargo on Alliance Holdings Group (AHGP), Atlas Pipeline Partners (APL), Sunoco Logistics (SXL), and Enbridge Energy Partners (EEP) all to outperform from market perform. Now remember boys and girls that aside from the obvious, Wells believes that if markets go down, these stocks will go down less. So as long as MLPS as a group, outperform the market, then these stocks should do well. Again that is in the world according to Wells Fargo.

This morning we sit at critical levels for the mlp index as shown on the chart. We are working our way through moving average resisitence and it appears we have a chance to clear them. Of course this is happening with the expectation of the big employment number tomorrow. Markets have been rallying ahead of the number so unless its a very solid number, i think we are setting up for a disappointment.
Stock futures are flat ahead of the open today. Interest rates are lower with the ten year at 2.20%. I still maintain that markets can't significantly rally with the 10 year at 2.20%. Nat gas moved higher yesterday and is higher again today on the threat of a tropical storm developing in the Gulf of Mexico. Inventory numbers for nat gas are due out later this morning.

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