THE BIG "W"

The "W" bottom in the mlp index looks pretty good in here and we are now going to look at the 305 level as a place where we need to get through. It seems like 320 is the next major challenge which is the high for this move and that will be a major test. So the path of least resistence technically is higher. The mlp index is up nearly 3 points and its being led by Williams Partners (WPZ) as it is right at a 52 week high. Holly Partners (HEP) Sunoco Logistics (SXL) and Oneok (OKS) are up major fractions to a point in here. Just a handful of losers down 10 cents or less.

Dow up 115, crude and nat gas are up nicely. And we are in an options expiration week with an upside bias. The wind now appears to be at our back!