MLPS IN CORRECTION MODE

We're continuing that trip down to the moving averages in stair step orderly mode (so far) and we came close to touching the 34 day support. These things always seem to happen when something else is going on. Maybe its the fed meeting. Still the trend higher is intact. Energy is the focus when the oil numbers come out at 10:30am Nat gas continues its decent this morning which of course we know is going to zero. Free nat gas everyone!

I sold out my position in National Resource Partners (NRP) after its earning last week and took a small loss. I just felt that given the underperformance my money would be better off elsewhere. This morning Wells Fargo downgrades the stock to underperform. Me selling and Wells downgrade are purely coincidental. Western Gas (WES) doubles its earnings and calls its performance "strong" which is a nice thing to accomplish given the world we live in.

Not much else happening this morning. Stock futures are flat right now and i would expect markets not to do much until the fed announcement at 2:15pm.