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Monday, August 25, 2008

I must continue to say that the mlp "tape" continues to gain a much better feel to it. Now don't get me wrong i'm not screaming buy in here...but the action lately where they don't seem to want to go down anymore (as a group). Look at today. We continue to try and tick higher away from the days lows. Now with the dow off 230 in prior weeks we'd be down 3 or 4 points on the mlp index and there would be gnashing of teeth throughout the land.

i'll wait for the finish but if we close with less than a 1 point loss i think it puts some confidence in my view that we are building a base from which a nice rally could develope come the fall.

just my lil ole southern humble opinion (of course!)

2 comments:

Anonymous said...

Joe,

Maybe I'm just bitter because I'm loaded to the gills with MLPs, but it still seems to me that the sellers are more than willing to keep giving us as much MLP inventory as we want.

FedUp

Anonymous said...

Natgas pushing towards the highs of the day. Hurricane fears.
The casino is open!