Sorry for no posts yesterday as my schedule is pretty full the last few days. MLPS held on well until the last hour when the bottom fell out in the market but on a relative basis mlps continue to perform pretty well

This looks to me to be a sharp bull market correction which means the bounce may come very quickly. We are already down to the 89 day moving average on the dow for the first time since crossing it in July 2009. The weekly charts could argue for a trip down to the 34,55 and 89 week moving averages which btw on the S&P chart are just crossing back to a positive slope. That shows just how much damage occured in that bear market that we are almost 11 months into a rally and the moving averages on the weekly chart is only now turning up.

MLPS are outperforming and should continue to do so.