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Tuesday, May 01, 2007


Well we haven't seen this in awhile but the MLP index is down 2.50 points and at the low of the day at this point so follow through selling to yesterday's reversal would suggest we have a short term top at 334-335. But the day is young so who knows. But if we have begun a correction short term we should visit the 34 day moving average which is sitting at 320 today and is still rising. Magellan (MMP) and Markwest (MWE) are the 2 biggest losers down 1.76 and 1.38 respectively. And we have a large group of fractional losers. Oneok LP (OKS) a winner among few up 50 cents...as is Inergy Holdings (NRGP) up about 30 cents.

2 comments:

Anonymous said...

it was log overdue. holding MMP, DCP and very happy

joewxman said...

i'll say...It could be the first trip down to my 34 day moving average support line since late December.