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Tuesday, November 25, 2008

OH NO! ITS THE CURSE OF
THE THREE DAY RALLY!



Or campy 1960's television! That said the three day rally curse was something the late great wise and wiity Ed Hart use to allude to when we are in bear or bearish trading enviornments



Stock futures were down...then up 10 on the S&P and now selling again ahead of GDP which leads me to believe that....whoops now up 10 again on the S&P ahead of numbers...so it looks to me like we have a chance here to break the 3 day rally curse. And of course MLPS will follow suit. Breaking news as the fed is taking action buying up loans and the market cheers!

Morgan Keegan downgrades Kinder Morgan (KMP), one of the few mlps to hold up in this mess. The company last night gave guidance on 2009 distributions which was positive. I imagine that if the market is in rally mode that the downgrade may not make any difference. No other headlines this morning. Energy is a little lower this morning after yesterday's big gains.

Two days until we give thanks kids...lets keep things in perspective!

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