MLPS MOVING HIGHER!

We're up 1.77 on the MLP index this morning and near 376 which puts us 4% under all time highs at 390. It looks like that we are headed for at least a test of 390 eventually as long as the overall market trend remains higher. And that seems to be the path of least resistence lately.

Most mlps are higher by fractions. Energy Products Partners (EPD) is selling some of its stake in Energy Transfer Equity (ETE). Both stocks are fractionally higher on the news. No other news of consequence this morning. Nat gas inventory numbers were bearish and we're down nearly 3% on the news and it looks like we're heading for a re-test of the 4 dollar level on nat gas. Nothing is more frustrating than the nat gas market.

No other corporate drivers this morning. Wunderlich is downgrading Energy Transfer Partners (ETP) but the stock is a little higher in spite of this. Dow up nearly 100 points. S&P is up 12 and crude oil is closing in on 100 bucks.