The silence is deafening this morning in MLP land as we have no corporate developements at all...no deals...no upgrades or downgrades...nada...nulla...naught...nothing. So its the market and the fed as we head into Tuesday's meeting. This morning stock futures are weak but off their lows. The energy complex is weaker except for natural gas which is higher by 15 cents. So there really isn't much to trade on. Friday's action was okay. We built on strength and closed near the high for the day and closing above 300. So we'll sit back and wade through the open and see where it takes us.
I posted over the weekend my fed prediction and invite you to leave yours. I am astounded by all the pessimism that seems to be building into whatever the fed does....which leaves me a little more bullish about the whole thing. I think he cuts by 25..leaves the door open for more cuts as data provides in the statement language... and cuts the discount rate by at least 50 basis points...all in my never to be humble opinion.
joseph cioffi's Source Page - Associated Content
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