End of quarter gains plus the China sanctions headline plus the oil market in turmoil and you have a very confused day on hand here for MLPS. The index was up 1 and is now down 1 as 316 seems to be a wall. Todays biggest winner and loser are both moving on earnings news. Regency is up nearly 1 and Linn Energy down nearly 1 (second day in a row).

Frankly neither chart thrills me at the moment for different reasons. Linn's chart looks okay but i wonder whether i may go lower in the short term. I don't want to buy too early and i'll wait to see what developes. If it where to get down to the 89 day moving average or lower it think it may be back up the truck time.


Regency is rallying today but sold off last week on a Citigroup downgrade. Now usually those moves don't mean much to me unless it were from A G Edwards...they have a good track record with MLPS....but the chart isn't screaming at me to buy it and i'm not one to buy on a news driven day like this one. So i will also let this one play out as well.

One thing i've learned with these is that opportunities always seem to present themselves eventually and patience is rewarded most of the time.