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Thursday, October 28, 2010

NATGAS DECLINE RUNNING OUT OF GAS?



I figured this morning they might sell into the number and then take it up from there and thats whats happened so far. Im wondering whether that spike down last week was enough to wash out the sellers. It might be nice if nat gas closed higher today which might make for another short term trading opportunity. Still its hard to fight that circling the drain feeling.

This watching paint dry mode we've been in since last Friday continues and the range is pretty tight. 11,000-11200 on the dow..and 348-352 on the mlp index. One way or another we're going to break out soon; maybe with next week's election and fed meeting. The 30 year has broken above 4% and we actually have a close above that level. The key will be the weekly close tomorrow and im thinking 4.10 is resistence...more so at 4.20 yield.

MLPS holding their own as the ex-dis cycle continues. The index is down less than a point and off the lows of the day.

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