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Thursday, July 09, 2009

STILL HOLDING ON AND NOW SOME UPSIDE!




I've been harping on this 220 level on the MLP index and it continues to hold along with the 34 day moving average. The dow looked like it was about to break down yesteday below 8100 when it turned around and closed higher and it looks to me like we could be back over 8250 again in short order. At least from the standpoint of a correction its been pretty orderly. Crude has corrected to 60 bucks and is showing a little bounce this morning. Nat gas which we all now is going to zero is up 5 cents right now. Stock futures are showing gains this morning.

No corporate developements and no upgrades or downgrades so far.

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