adbrite ads

Your Ad Here
Your Ad Here

tickers

$IN

amazon

Thursday, June 30, 2011

END OF QUARTER, UP 7 IN A ROW!



MLPS are heading into quarter and 1/2 end on a strong note. Up over 4 points yesterday we are now back above support and over 370 which btw puts mlps up on the year although we are down for the quarter. There is a firm tone to trading this morning as the market has firmed up nicely these last few days. Bond rates have also firmed up as we are up 20 basis points off the lows of last week and today is the last day of the feds buy program. So we will see what happens as bond markets deal with the fact that there is no longer going to be a sugar daddy out there buying up supply. This all comes ahead of a holiday weekend so look for trading to start to slow to a crawl especially tomorrow as some people plan for an early getaway.

No news of consequence today. Wunderlich is starting coverage of Linn Energy(LINE) at a buy and a 44 dollar price target. Oil is up and nat gas is down this morning. Nat gas stocks come out at 10:30am. Long rates are higher again this morning. Overseas markets are higher for the most part. The dollar is down against the euro.

No comments: