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Friday, June 08, 2007

Btw i would just like to point out that in the past when we've had big sell-offs...MLPS were the last group to go down. That was usually the sign that the overall market was about to turn. Its different this time in that this is an interest rate sensitive decline. We actually were the first group to go down 2 weeks ago as bond rates began their climb. So we are leading the way down here so this time we may be the first group to turn higher before the rest of the market follows. All imho of course. In the premarket interest rate sensitive groups like the banks and brokers are looking just a bit lower from the close yesterday. 10 year back to 5.20% Futures off the lows.

2 comments:

Anonymous said...

Thanks for you updates, Joe. Out of curiosity, what MLP Index do you refer to when talking about daily performance?

joewxman said...

amz mlp

yahoo symbol ^amz