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Friday, November 07, 2008

There was a request for a point and figure chart on the MLP index which you see here. It has turned bullish and has an upside target of 330 (excuse the laughter). I'm not sure how these charts work but there is some detail here.

Up about 4 points on the mlp index with the down up 170. Magellan (MMP) and Energy Transfer Partners (ETP) showing 1 point plus gains.

Atlas Pipeline Partners (APL) just continues to sink and is down nearly 2 points today. No news on 550,000 shares changing hands. Atlas Holdings (AHD) is holding up however as it is flat right now. Crosstex LP (XTEX) is up 20 cents on earnings which are what they are.

Constellation Energy Partners (CEP) put up its earnings and said that future distributions would depend on the coverage ratio which right now sits at under 1 x. Stock is down 25 cents.

The president elect speaks later today and market watchers will be listening for clues.

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