EV PARTNERS SURE KNOWS HOW TO HEDGE! STOCK CALLED UP 3 BUCKS AS THE MLP RALLY AND THE MARKET RALLY CONTINUES!

Quarterly earnings from EV Partners was a whopping 6.88 a share and 11.14 for the year

Now of course much of this was due to hedging and the company apparently did a terrific job hedging during the oil price decline from 148 to 35. More importantly if you strip out the numbers to the bare bones they look very good in this enviornment. The stock closed yesterday at 13.88 and is bid 15 offered 16.37 this morning with no trades as of this post. And the chart looks like it is another one of those in the mlp group which is building a base. Could today's news cause us to break out of the base?

I put up a chart of the dow industrials on a weekly basis. We may be seeing a weekly reversal pattern here which at least may be indicating a trend change for the short term ( means we can go up for awhile!). Stock futures are higher this morning so at least the rally with legs will continue this morning. And we will close up for the week which hasn't happened in awhile!

Crude is up again this morning after a nearly 5 dollar gain yesterday. Nat gas is adding a few ticks as it tries to nose back above 4 dollars. Certainly feels better to blog under a positive tape than a negative one! Nothing on the upgrade downgrade list so far this morning.

Here is this weeks free article on the market technicals from Barrons. He argues the S&P can rally back to 805 in this leg as we make a transition from decline to sideways on the charts. We can only hope but the rally does seem to have some decent fire power behind it.