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Sunday, December 11, 2005

Good Sunday Evening everyone.
First off the the weather pattern over the eastern us looks cold to bitter cold at times....there looks to be an arctic dump coming for the week of Dec 18-24....at least thats what most weather models are indicating. This coming week will start cold and below normal in the northeast and then trend to near nomal by week's end. This should continue to put upward pressure on oil and gas prices.

In the news a massive explosion at a British oil depot.
Lastest from the BBC at the above link.

I think MLPS are bottoming here and could rally into year end. Buy only the ones with best charts like ETP and PSX among a few others and i would still avoid Teppco and Northern Borders Partners until their charts show at least some signs of bottoming. BTW for the first time the universe of closed end MLPS are selling at discounts to their net asset values after trading at premimums of as high as 6% above NAV. Check FEN FMO TYG KYN.

Crude oil is up this evening by 46 cents and Natural Gas is up as well by a nickle. More cold air arriving. Cactus Jack has as always an informative post on the yahoo boards. Give it read.Link

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