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Thursday, June 08, 2006

Forever the optimist it is unusual to see just about every MLP down this morning and the overall market is getting sold off but i will be so bold to predict that by days end there could be green on the screen. First off is the fact that there is lots of selling going on now and that could bring about a washout. Secondly since they move the big boys first....some buying has arrived in Exxon Mobil as it is off its 58.10 low...now its 58.42. Okay so its only 32 cents off the low but the buying ususally starts there and then spreads. And the fact that MLPS are getting sold usually comes at the end of a market sell-off and not the beginning.

Of course these could be famous last words but i am forever hopeful. Dow now back at 10,900.

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