Thursday, May 24, 2007
326 is gone and now were in the 325 zone as the selling has been pretty unrelenting this morning. 321 and change is where the 55 day moving average lies so we'll either be there soon or we'll rally back over 327 and change later this afternoon. Picking up a few bargains here with Magellan Midstream (MMP) and E V Partners (EVEP) and Buckeye Holdings (BGH). That is not to say they could become bigger bargains if this correction deepens. But the 10 year approaching 4.90 is setting off alarm bells.
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