ANOTHER FRIDAY

All through this decline we have seen "v" shaped bounces as you can see on this short term chart. No "v" shape bounce occuring here .....which may actually be a good thing. What we need to see in my opinion is a long period of base building. Perhaps that is what we are seeing the beginnings of here and yes i'm being hopeful. Of course we could be building another ledge from which MLPS dive off from.


Emerging from its base is the dollar which is screaming higher this morning some 2 cents against the Euro and we have commmodities down across the board. Stock futures are higher this morning. Anyway its food for thought among the rubble.


Earnings out this morning from Crosstex Energy LP (XTEX) which has been doing well on an earnings standpoint which hasn't translated. Hiland Holdings and Hiland Partners (HPGP,HLND) posted earnings numbers last night and announces an expansion. DCP Midstream (DPM) puts up excellent earnings. Blah Blah Blah Blah Blah!

Crude oil down 2.50 this morning and Nat gas continues in free fall collapse so look for pressure on broad energy stocks. Stock futures are up. We have another insider buy in Calumet Specialty Products (CLMT) which stands to benefit from falling oil prices.

So lets get another agonizing week over with. Sometimes it think the action feels just like this.