MLPS SELL-OFF LATE YESTERDAY...DOES THE CORRECTION SPREAD TO US?

Good Wednesday Morning! And thanks for the kind words from yesterday. My dad had to have a couple of stents put in and all is fine. He's home today and as good as new. Had to endure a hospital with no wi-fi and driving in rush hour traffic in nyc both ways which i'm not use to.

Anyway i did manage to keep my eyes on the sell-off yesterday which did not spread to MLPS until the last hour when the index went from being up 2 points to just flat on the day...and at the days lows.

The chart still looks fine but remember if the market sell-off continues or gets worse it will spread to us. The good news is that when that happens its almost always at the end of the market move. We're the last group to be sold.

This morning we have Goldman downgrading Holly Partners (HEP) and AG Edwards starting Duncan Partners (DEP) at a neutral.

Meanwhile if the sell-off continues it might be a chance to pick up a few bargains and LINE may be one of them. It looks like from the chart that this tight sideways correction should be coming to an end soon and ultimately should break to the upside...imho.


Futures for stocks are generally weak. Energy is up slightly this morning while 10 year rates are falling again in a flight to quality.