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Tuesday, March 09, 2010

THE BATTLE FOR 300 CONTINUES


The war wages at the resistence line. Right now trading is the equivalent of watching paint dry but so be it. There is an upward bias and if 300 holds today it might be met with a round of buying this afternoon to clear the hurdle. Until then we watch and wait.

Not much happening news wise but it looks like coal mlps are a bit flattish today while others like Williams Partners (WPZ) lead the way to 52 week highs and its over the 40 mark. The list is split evenly between small gains and small losses with no real standouts to speak of.

The overall market is firm so we watch and wait for the water to boil.

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