MLPS CATCH A BID AFTER THE FED

I guess that ledge on the chart from the action of the last 2 weeks was the formation of a launching pad. The MLP index was up over 1% yesterday...3 plus points on the back of the spectacular post fed rally. We have a few hurdles to get through like those moving averages which are still above us but i think the odds favor us going above those in the next week or so. From top to bottom we've sustained a 20% correction...much deeper than the overall market so it would be expected that we have more work to do here. We're still almost 40 points below our all time high so there is lots of headroom here.

We have news leftover from last night as Transmontaigne (TLP) announces a small purchase of assets. Other than that its quiet on the news front this morning and no upgrades or downgrades so far but this is an early post.

Headlines as they break this morning.