I ALMOST FORGOT WHAT THIS WAS LIKE

Did you find yourself feeling like that yesterday? Did you find yourself viewing every uptick with disbelief and every downtick the sign that a reversal was imminent? Did you need CPR when you saw that Linn Energy (LINE) was up? Goes to show you just how the bear market has infected our mindset. I guess a 20%+ sell off from the high will do that to you.



So now we've had a 6 point rally in the mlp index and there is still headroom to get us back to the 295 level so with the strong futures markets i would think we could get there. Lots of distribution news last night and the hikes continue to come in.


Btw the dow chart has headroom as well to get back to the moving averages which are sitting around 12800. BTW i am not a believer that this is the market bottom. Bottoms take time and after this rally has run its course i would think we'll need to come down and base build for awhile. Still if we can get into a sideways trend it would be better then relentless selling.

This morning no headlines yet and no upgrades or downgrades so far. BTW shock of shocks yesterday...Linn Energy (LINE) was up over 1. I checked back from last quarter and the company put out its distribution news in mid November so it is a bit late in stating the payout. The reaction to the pre-announced boost will be interesting to say the least so we await with great anticipation! Global Partners (GLP) increased its distribution yesterday and the stock price was actually down on the day...Constellation Partners (CEP) did not increase its distribution yesterday and that came after the close so we'll see if that has been priced in. It already yields over 8%.