NEW MONTH...TAX LOSS SELLING

December begins and i guess it would be logical to assume that the recent factors putting pressure on the group will continue for a while longer. Tax loss selling probably will be a feature for the next few weeks. But there is light at the end of the tunnel and i suspect Citigroups call for a January reflex rally of 5% or more looks like a good possibility once all this short term bullshit comes off.

This morning we are lower by 1 point on the index.Hiland Holdings (HPGP), Williams (WPZ), and Alliance Resource (ARLP) are fractional winners. Brietburn (BBEP) and Markwest Hydrocarbon are 1 point plus losers and lead the way lower.

No news and no upgrades or downgrades. Oil and natural gas continue to sell off sharply. Stocks are a little lower.