OIL REBOUNDING

We had 1 whole down day yesterday in crude as we gave back 1/2 of the gain from the day before. This morning we have gained back 1/2 of yesterday's loss. So at the end of the day we are down 3 bucks from yesterday's intra day high of 135 and some change. Who knows if the top is in but stock futures are lower this morning. This might have a bigger impact on the DUG if oil stocks drop if the overall market takes gas. We'll see. No headlines this morning on MLPS and so far no upgrades or downgrades in the list so far.

I couldn't figure out why the sell off yesterday in MLPS to the tune of 3 plus points on the index. It hit me last night however as i was driving to the bowling alley (don't ask). Yesterday was the MLP conference in NYC and i think it was a buy the rumour sell the news move. No big announcements so there were longs in there who were expecting something and they sold. That simple. I don't think it was the crude sell off yesterday or the selling in energy stocks that was the primary mover here.

Friday before Memorial Day Weekend so i hope everyone has some plans. I have a soccer tournament and work. Weather too cool here for the beach or pool so i think i will head to Belmont and try to earn a living there. Monday is the MET MILE.