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Thursday, March 17, 2011


The celebration appears to have started early with markets very strong this morning as trading begins. Yesterday it seems was a day fed by rumor after rumor over the Japan nuclear situation. MLPS completely bucked the trend and looked like they benefited from the fight to quality that we saw in the yield market. Its not too many times when the dow is down 240 and the mlp index closed up over 3 points. But the gains are getting extended today and the mlp index is up almost 3 points in the early going.

News items include Natural Resource Partners (NRP) doing a secondary and the stock is down 2 points. Morgan Keegan upgrades Copano this morning to outperform. The stock is up a dollar. Atlas Pipeline Partners (APL) just continues to move foward up another dollar and up to 33 and change. Most mlps showing solid fractional gains in the very early going.

So now that the opening bounce has worked its way through the markets we will be looking to see whether this is a dead cat bounce, or whether buyers will push this higher as the day goes on.

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