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Tuesday, September 13, 2011

Markets have been all over the place as the tape has a very nervous feel to it. The dow is down 29 points but the S&P is up and the russell is up much more on a percentage basis. Its all probably catch up from yesterday. MLPS meanwhile are down 1.50 and not playing catch up to yesterday's late day turn.

QR Energy (QRE) is up 2 dollars on an upgrade this morning by UBS and a 27 dollar price target. Plains Storage (PNG) is up fractionally on its upgrade. Otherwise its a mixed list with fractional moves in either direction with a downside bias. Most of energy is showing relative underperformance today. Nat gas is up nicely as cooler weather heads into the US for the second half of the week.

More frazzled nerves for the afternoon as markets swing on every piece of euro news.

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