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Friday, October 02, 2009

MARKETS GOING OUT FLAT AFTER A DOWN START!


Sorry for the very late first post today but had so much to do. This is my first chance to sit down. After yesterday's 200 point dow decline and the MLP index down 3 and change the morning started off like another mess was at hand. But as pointed out yesterday in a bull trend those moving averages hold up pretty well and it seems like they are providing at least some end of week support.The mlp index was down over 2 and is now back to just about even. The dow was down this morning and has been see-sawing around unch this afternoon. Not bad really after yesterday's sell-off.

Holly Partners (HEP) and Alliance Partners (ARLP) are the two biggest losers so far today down major fractions while Magellan Midstream (MMP) and Plains All American (PAA) are the biggest winners up fractionally.

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