DAY AFTER LONG WEEKEND
MLPS OPEN UP SHARPLY!

Hope everyone had a great 3 day weekend..and hopefully snow free as I shovel out another 3 inches that fell overnight. MLPS making that prospect better this morning with the index up 3 points (one point per inch!). and every mlp on the list is higher this morning which is nice. Nustar (NS) Sunoco Logistics (SXL) and Plains All Ameerican (PAA) are all up 1 or more in the early going. No news drivers on the corporate side. I dont see anything of consequence on the upgrade downgrade list but i do notice big oil stocks like Chevron and Hess among others getting upgrades which is moving energy stocks this morning in general.

Notice the MLP index chart is about to cross on the MACD which is tech speak for a buy signal. The support levels are holding and now the 300 level becomes extremely important to break through. Otherwise we have a potential double top here and that may mean the unrelenting uptrend that began December 24, 2008 is coming to an end. But thats still 15 points of upside to get there to make the test which means the path of least resistence in the short term is higher.