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Friday, July 28, 2006

Afternoon broad rally in the overall market...MLPS are mixed to higher. The index is down but again we have some ex-distributions going on and a few of the bigger caps like Valero LP (VLI)and Kinder Morgan Partners (KMP)are down...as per Valero its the first down day after 7 up days in a row so it was due for a pullback. Earnings and distribution announcement coming Monday morning and should be a mover. Calumet Products Partners(CLMT), Crosstex LP(XTEX), Markwest Energy(MWE), and Duke Midstream(DPM)...all fractional winners but under 50 cent gains. Losers include Pacific Energy Partners(PPX), Energy Transfer Partners(ETP), Valero LP and one or 2 others.

10 year rate now at 4.99% and falling. We continue to have the wind at our backs.

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