PLAINS BUYS RAINBOW

MARKWEST SELLS SHARES

News leftover from last night as Plains All American (PAA) is buying Canadian pipeline company Rainbow and its expected to be accretive to earnings in about 6 months. Nice to see a deal again. Markwest dropped 2 points after the close as it is doing a 5 million share stock offering. Money is to be used in the capital budget for growth this year and to retire some debt. And DCP Midstream's CFO is leaving for another job.

This morning we start the day at just under 289 as the rall from 262 continues to extend itself. Where this short term move ends is anybody's guess but as long as the overall market seems to have support we will still have the wind at our backs.

More as we move through the morning.