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Friday, January 08, 2010

Markets aren't doing much of anything today and given the "bad" employment numbers this is a sign of underlying strength. The range has been extremely tight and the tension is building for a big move soon; odds favor up given the trend. MLPS started down but are now higher on the day by a fraction on the index. Copano (CPNO) and Markwest (MWE) were down on Morgan Keegan downgrades but off the lows of the day. Sunoco Logistics was up 1 and change this morning; turned lower and then higher again on the Goldman upgrade from sell to hold. Most other moves today have been fractional with not much conviction.

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