HOLDING UP WELL

With the dow loss yesterday MLPS actually held up very well. We don't have to worry about a Lehman unwind like we were facing about a year ago. So yesterdays mlp index loss of 2 points was just another day as we straddle those fabulous uptrending moving averages. No signs of any breakdown yet. Also funny how the calander turns September and the market just drops...a little too easy in my view. Everyone can't be right!

Quiet out there with corporate news and i would suspect it would be for the rest of the week as we cruise into Labor Day. Energy and stocks are a little weaker ahead of the open and of course Nat gas is shooting for down 18 out of 19 days which in itself is astounding that there has been not even a reflex rally of any kind. 2 dollar nat gas can't be good news but a bit of contrary news. My best friend Steve who has a record a mile long of being a contrary indicator is switching from heating oil to nat gas this week. A bottom if there ever was one!