A RARE SUNDAY NIGHT POST...NATGAS SOARING IN EARLY TRADING..OIL UP TOO...AND SOME OTHER IDEAS!
Good Sunday Evening...Normally i don't post much on the weekends but i'm working a double shift and work is slow. Just want to point out that in electronic trading...Nat gas futures are up 33 cents and crude is up about 35 cents as Friday's rally off the lows continues. Weather patterns across the US midwest and east will favor belwo normal temperatures for the next several weeks with periods of brutal cold coming. In fact the week of Jan 29th and beyond look bitter for many days. Markets are reacting since a non winter has been priced in.
Looking ahead to Monday...MLPS i think will move higher as the next up leg may have started with the MLP Index bottom at 277. I think if we break through decisively to new highs we could be on our way to 300 in short order. Watch Alliance Resource Partners and the GP (ARLP,AHGP) as they should have earnings, distribution announcements and they are into coal which may have started an up move on Friday (See ACI and BTU). These 2 need to catch up. (For disclosure purposes i own both) I also bought Holly Partners (HEP) on Friday as it looks like this one is about to breakout to new highs on the chart.
More in the morning and i'll post some charts when i get home from work tomorrow around 11am or so.
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