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Thursday, September 23, 2010

Another boring day here although from the 90 point drop at the open, markets then rallied on the housing number and the dow is now either side of unchanged while the nasdaq is up. MLPs are down a little..off one point on the index. Enbridge Energy Partners (EEP) leads the winners up nearly 1 as concern about the recent leaks and resulting lawsuits aren't going to mean material impact on the company and no impact on the distributions. Except for Williams (WPZ) which is down 1.30 on the stock offering...most moves are fractional in either direction and nothing that we can draw conclusions from. Watch for the possibility of an end of quarter move in mlps since they have been the year's best performing groups and you would think they would love to show them on the books for the end of quarter...phony as that is..it is a trade.

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