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Tuesday, December 02, 2008


9 TO 11% declines or more in the market is something we haven't seen in a couple of weeks so its nice to see us back to gut wrenching declines. MLPS took an expected amount of gas yesterday as the Thanskgiving rally gets partially undone. Dead cats bouncing this morning from stocks to energy. Yields on bonds apparently are all going to zero with the two year at 0.83% and the ten year at an astounding 2.75%. So perhaps the ultimate bubble is there for the pricking in the form of Treasuries.

No corporate developements this morning and so far as of this post no upgrades or downgrades. One thing to point out for natural gas. The weather pattern over the next several weeks looks very cold across much of the country. Now it won't be cold every waking minute of that stretch but cold enough that it should eventually bring in short term support for heating oil and nat gas. Whether that takes the headlines for traders above the economy remains to be seen but it might be something to trade on.

Being that mlps are floating around in the land of hopelessness i'm heading for the gym. Hopefully we can hold 8100 and take back 1/2 of yesterday's losses by days end. But i'm afraid that's asking too much.

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