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Monday, January 08, 2007

They came out of the gate strong...then settled back as sellers came into the energy complex...and now they are moving off the intraday lows and moving higher on MLPS. Natural Resource Partners(NRP) is up nearly 1 and we have strong fractional gains in Valero LP (VLI), Boardwalk Partners(BWP) and Enbridge Energy Partners(EEP) . We have smaller fractional gains in a host of other issues.

Two stocks on the losers list today, Markwest (MWP) and Valero GP (VEH). Markwest is correcting off a terrific move. Those of you looking to buy might look to where the moving averages are settled for laddered buy points.



Valero GP (VEH) also looks like its correcting. It has already bounced off the 34 day moving average last week and might get back down there again. As long as MLPS remain in a bullish pattern i don't think this one should go much lower than the low 22 area.


Atlas Energy Resources (ATN)is approaching the 25th day of trading which is usually the point where all the brokerage houses fall all over themselves to recommend the stock. Usually the stock moves up ahead of these announcements so i look for a rally for this one to 23-23.50 very soon....all imho and no guarantees of course.

Crude Oil now pushing back to even on the day.

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