Shares of Colorado-based MarkWest Energy Partners (MWE) were up as much as an additional percentage point today following a 6.3% gain in Thursday's trading. The natural gas gathering and processing master limited partnership (MLP) has seen its unit price soar 78% since March.MarkWest has come back strongly from a rocky second half of 2008, in which there were doubts regarding its ability to sustain distribution levels in the face of weak commodity prices and reduced access to credit. Those concerns have largely been laid to rest following the partnership's improved liquidity position and growing signs of vitality in the credit and equity markets.We believe that MarkWest's Marcellus joint venture with NGP Midstream & Resources (and the concurrent credit facility expansion) and the recent senior notes offering adequately address its near-to-medium term liquidity needs. Additionally, the recent formation of a separate joint venture ...

In every new Administration, there are some fresh faces and some holdovers. Among the holdovers on the economic team is Ms. Rosy Scenario. The president's budget assumes that while this will be a rough year, particularly in the first half, things will start to get better in the second half, and will be much stronger in 2010.

The graph below shows the year-over-year growth rates expected for each year out to 2014. I think they are all too high, but for 2010, the administration's forecast is the highest and, therefore, the most off base. Yes, the stimulus will help, but the underlying situation is much more dire than the forecasters admit. We are caught up in a vicious cycle, where declining wealth has lead to lower consumption, which has lead to decreases in production, which has lead to more unemployment, causing more stress on the financial system, causing more

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After the Dow Jones Industrial Average ($DJI) tested the Nov 21 intraday low of 7,449, we ended the day with a small bounce.

This was not surprising. November's intraday low should serve as a support level. Furthermore, the blue-chip average is oversold. These 2 factors caused some brave traders to buy. Hopefully, we'll see some follow-through buying tomorrow.

Of course, this is all based on technical analysis. And technical analysis only works until it doesn't.

The fundamentals remain horrible. Earnings estimates continue to be cut, the recession is worsening and the credit crisis is continuing. Yes, Washington is trying to help, but both the stimulus package and the new housing program could have been better.

Despite all of this gloom, I added a stock today to the Focus List. Why? Because there are still companies that are doing just find despite the economic backdrop.

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