MLPS WAITING FOR SOME DIRECTION
MLPS WAITING FOR SOME DIRECTION
Sorry for the late start this morning as i had a few things to do. The MLP index is down a fraction but off the lows as the overall market opens down 100 and is now rallying back to a small loss and the nasdaq is higher. All of this is ahead of Bernanke's speech tomorrow which is almost the same set up we had in 1998 which caused a 400 pt rally. We'll see if history repeats.
Meanwhile some corporate news from Crosstex LP (XTEX) as
it is expanding its pipeline in the Barnett Shale. No other news and no upgrades or downgrades.
Most moves this morning are fractional in either direction. Markwest Hydrocarbon (MWP) is down 1. Constellation (CEP), Genesis (GEL) E V Partners (EVEP) K-Sea (KSP) and Markwest (MWE) all down fractions.
Terra Nitrogen (TNH)is up nearly 3 and near 95. Holly LP (HEP) and Calumet (CLMT) are leading fractional winners.
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