HEADING FOR THE TOP OF THE RANGE!

I still think its end of quarter plus all these new etfs coming on but its hard to argue against a nearly 2% gain last Friday against an overall market which really didnt do much. We have been in a bull market now for 18 months in mlp land and the outperformance to the regular market continues. The spread however widened considerably last week as MLPS outperformed the overall market by a spread of over 6%. Outperformance yes but the wide spread can't last forever. And one must wonder...or worry what happens when etfs have to sell one day. Are there going to be any buyers around? There was a time when mlps traded by appointment only. Those days may be long gone.

Okay folks you buy or sell today it settles in q3. Wednesday is the last day of Q2 so i would suspect that buying pressure will continue for our group. The chart formation would argue for another run back to 320 in the short term. Its hard to argue against that. No corporate news this morning of any importance and so far no upgrades or downgrades. Stock futures are firm into the open. Crude and nat gas are down a little bit. Dollar is up today by a little bit. People have the holiday weekend on their mind so look for trading to slow as the week moves on. The open looms.