A fairly stunning reversal took place around 11am and mlps went from being up over 2 to now down over 4 points which puts in key reversal land here. All this happened when the dollar suddenly reversed and bolted higher. The dow broke under 9900 and as we mentioned this morning a trip down to 9800 would be a ride to the first support area.
Sunoco Logistics (SXL) is the biggest loser down nearly 2 on earnings and a distribution hike but that one went to all time highs. Most mlps are lower by fractions to a point.
adbrite ads
mystic monk coffee
investment strategy tips
joseph cioffi's Source Page - Associated Content
http://www.associatedcontent.comuser/505733/joseph_cioffi.html
joseph cioffi's Source Page - Associated Contenthttp://www.associatedcontent.comuser/505733/joseph_cioffi.html
About Me
- joewxman
- a meteorologist with a knack for trading and investing in MLPS! I also like horse racing, enjoy cigars and a good port wine.
FEEDS AND OTHER BLOGS
seal of approval
OTHER INFORMATION
OTHER INFORMATION
1 comment:
There was 3 things that undermined the banking sector today.
1) Bove downgraded FITB and STI to sell
2) A report that the first time homebuyer's credit would be phased out.
3) Sen. Dodd bloviated about forcing banks to lower credit card interest rates.
Post a Comment