Good Morning!
Friday morning and we see Crude Oil down again and with a 55 handle (55.05 as of this posting!); this after yesterday's $2.50 decline. Nat gas however is up this morning and we have flat 10 year rates waiting for housing data. So MLPS start just pennies below all time high territory and somehow they managed to hold on yesterday while big energy stocks got hammered....the XOI was down nearly 3% on the day.
So the question is do we get pulled down with the rest of energy today and play catch up?



Clearly the daily chart is extended here and a pullback here would be a buying oppourtunity to pick up the better performers at lower prices. We believe that this is in the context of a longer term bull move.



The weekly chart here tells us that this is early in the bull move. So which stocks to buy. Look for the ones that have charts that look like this and use support lines as entry points. I find that the 34, 55, and 89 day moving averages work very well and one should ladder in so you are not standing around trying to pick a bottom.

Its still early in the morning but so far no news on the group and no upgrades or downgrades from anal-ist land.