FED DAY AND THE GRIND HIGHER CONTINUES!

The low volume grinding rally continues which continues to bring bulls and bears to the battleground. Each day lately has seen many reasons for a selloff and everytime the market rallies back to an unchanged or higher close like we saw yesterday. In the end its about price and we are sitting at the top end of the trading range. Bears will argue the almost non existent volume. And today the fed meeting will come up with something that may or may not break this pattern. See you at 2:15pm.

News from last night that Genesis Partners (GEL) is doing a stock offering and this morning they priced said offering. The stock price is down a buck and change in the pre market. Also this morning Penn Virginia Resources (PVR) announces another pipeline build for a priviate company that will be accretive to earnings upon completion. This is the second such announcement in the last 2 weeks. The stock is bid up in the pre market (as i am one of the ones bidding!).

Stock futures are a little higher this morning. Crude was lower overnight but now its higher. Nat gas is down (again). The dollar is lower against the euro. Looking for a higher open and then a grinding day until 2:15pm when the fed makes an announcment.

Finally after last weekends hurricane like storm that took down my 40 foot 23 year old blue spruce the sun has returned. Glory!