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Thursday, May 14, 2009


If...and its a big IF...we are in a developing longer term bull trend it would be logical for MLPS to pull back to the 34 day moving average and it did so this morning and we've bounced from there this morning. Got down to 205.90 and now wer're back around 208 as of this posting; still down on the day but well off the lows of the session. So it's a good sign and for the overall market they can't seem to take them down more than a day at a time; also a good time.

No corporate news is driving mlp prices so moves are fractionally in either direction with the list evenly split between winners and losers. Bigger cap mlps seem to be more on the losers list which is the reason why the index is still under water for the day.

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