CORRECTIVE MODE CONTINUES
AS QUARTER WINDS DOWN!

We've pulled back into the moving averages which is a logical place to go to if we are in a corrective mode which it appears we are. We are facing a weaker open this morning off of last week's options expiration. I would not be concerned unless we undercut these moving averages in a meaningful way.



Up 25% for the year is not too shabby for MLPS along with 2 distribution cycles. Usually end of quarter sees a slowing of corporate news flow. So far this morning we have no corporate developements and no upgrades or downgrades.

Nat gas has just turned a little higher this morning against the grain of everything else. I am still bullish short term on nat gas and continue to use the UNG. I still think 17 on the UNG is the first logical target and we we break out from there 18 and then 20-21 are the next logical stops. Dollar is a little stronger this morning..

Hope all you dads out there had a good fathers's day!