LOOKS LIKE A TRIP BACK TO THE TOP!

The daily adventures in the market are never easy and predicting where we are going is at best a humbling experience and sometimes a humiliating and costly one. But we come back daily to try yet again to figure things out. Yesterday was a strong day for the markets and for MLPS which soared up more than 6 points on the MLP index with lots of one point plus winners. Judging by the chart we are above support and it looks like it wants to try to get back to all time highs. If that happens then the question becomes whether its a new up leg or the beginnings of a double top formation but we will leave that for later. It has to get there first.
I should probably put this up more often. The AMZ weekly chart just continues on an uninterrupted uptrend and except for last weeks 's pullback into the support zone, the rise shows no signs of topping out on a longer term basis. The bull market bottom at 145 intraday in December of 2008 seems like a million years ago. Who here would not want to have that opportunity back.

Markwest (MWE) and Sunoco Logistics have been working together in Marcellus and this morning comes news that they are expanding that relationship. Both stocks are just off all time highs. Not much else newswise in MLP land this morning. No upgrades or downgrades so far.

Nat gas was all over the place in a very volatile day. It wound up basically flat after being up 1% then down 1%..then up 1%..then down 1%...and then unchanged. This morning pre open it is higher by over 1% but nat gas has a habit of selling off between 9am and 9:30am for some strange reason. Still it looks like it wants to go higher in here as oil continues to hover around 100 bucks. We all know the arguments for and against nat gas so i won't repeat them . Its not for the faint of heart. Stock futures are flat ahead of the open and interest rates are a shade higher.