Wednesday, July 29, 2009
MLPS having one of those sharp correction days with the index down over 7 and we could take it back to 231 on the index and still be okay in this uptrend. Sharp corrections in uptrends are a bullish sign so no worries here.
Almost the entire group is down today and many mlps are down 1 to 2 points on the day. Alliance Resource (ARLP) got downgraded by Wells Fargo and its down 2 points on the day. Its the biggest loser. Energy as a whole taking gas today. Nat gas of course is down and heading to zero.
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