IS THE MLP CORRECTION OVER?
COULD BE!

The 319 ish low from last week is holding and the bounce from there gained steam yesterday with a 2.54 gain and a close near 328. Technically this puts us above the 34 day moving average and the next hurdle to clear is the 331-332 level.






To me whether we clear it or not will depend on whether that 4.90 level holds on the 10 year note.We are sitting just below that now and i suppose the employment numbers will be the determining factor over whether we break through that level or get turned back yet again.


But for today a firm stock market at record highs for the dow and s&p will probably carry us higher again.


Its quiet this morning on the corporate news front. Steifel Nicholas is telling us we should be buying Trans Montaigne (TLP) which closed yesterday at 35.86. Nothing else on the upgrade downgrade list so far but the morning is young.