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Tuesday, June 21, 2011


Yesterday it looked like the market simply ran out of sellers as they tried several times to take em down. The last hour saw a nice rally and MLPS closed up 2 and change and that has been extended today. MLPS are up nearly 5 on the index and near the highs of the day. In spite of all sorts of uncertainties like Greece and the fed etc are responding by running higher. The dow is up just under 100 points and the broad market is strong.

EV Partners (EVEP) Oneok (OKS) Williams (WPZ) and Alliance Resource (ARLP) are showing solid 1 point plus gains and most mlps are ahead by major fractions. Just a few issues on the tape shedding pennies for the most part.

Tax issues are front and center among the uncertainties and Politico tells us that the door may be open for more tax reform. Worth the read here. No mention of MLPS specifically but one doesn't have to read between the lines.

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