IF WE CAN'T RALLY TODAY

I SUGGEST WE CRAWL INTO A CAVE

Yesterday's 600 point swing was one massive reversal and typically what happens in these situation is that the big boys turn first and the rest of the market plays catch up over the next couple of days. So i suspect we will be up today and since we are down 12 out of the last 13 days including 10 in a row, and we've only had 2 up days since January 1st.



BTW i want to point out again that at least insiders continue to step up to the plate as 2 EV Partners (EVEP) insiders bought a total of 13000 shares on Tuesday. Links to those filings were posted last night.

This is an early post this morning so at this point we have no corporate news and no upgrades or downgrades. Stock futures which were down overnight are now nicely higher and we have green arrows in energy and commodities. The stock market has lots of headroom to rally in here and we could run to 12600-12800 where i would expect us to hit some sort of wall. As for MLPS we have room to get to 295-297 on the index but that would assume that we'll actually have a series of up closes let alone just 1 up close. Yesterday's action brought us down a little over 20% from the July high of 342...66 points from top to bottom. Yesterday we saw selling in Kinder Morgan Partners (KMP) which was down 4 points intraday. It closed down just fractionally on the day. Kinder was hitting 52 week highs and the index would probably be much lower had this not been the case since KMP has a big weighting in the MLP index. So we face yet another day. Everything seems to be indicating its time for a long overdue big bounce. If we can't bounce here...we'll never bounce.