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Monday, July 10, 2006

TAPE LOOKS LIKE IT WANTS TO BREAK DOWN AFTER 3PM....MLPS STILL HOLDING ON TO GAINS.



Market has been in weakening mode this afternoon but MLPS are still just off their highs of the day...seems to me they are keying off the flat 10 year rate and energy stocks as a hold digesting last weeks gains. Plains All American (PAA), Holly Partners (HEP), Pacific Energy(PPX) and Markwest Energy (MWE) all to the upside by up to 50 cents each.

Energy Transfer Equity (ETE) is down about 30 cents as the biggest loser. By the way earnings for this and ETP should be out any day now. Chart has been spectacular.

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