adbrite ads

Your Ad Here
Your Ad Here




Wednesday, October 19, 2011


Very quietly in the land of MLPS we have seen a wonderful rally from the spike below 320 that we saw 2 weeks ago. We are up 9 out of the last 10 days and we are sitting above the 89 day moving average. We also above the 34,55,144, and 200 day moving averages! If your wondering how i came up with those numbers..they are fibonacci numbers. And i have found that the work pretty well.

Meanwhile in the Dow Industrials yesterday we traded as high as the 144 day moving average (not shown here) and the 34 day moving average (in blue) all in one day. We have seen a 700 point swing in 2 days trading. This is the new normal. And being short (and in excruciating pain) right now, i keep looking at this tape and the 10 year still at 2.20% and i keep telling myself..this can't be good. I can't help but feel that this is going to get resolved violently if we break out of the range (10,600-11,600) in either direction. And being short (built position between 11,100 and 11,500) its stands to reason that the breakout will be up.

Okay back to MLPS, Amerigas (APU) is getting downgraded by Citigroup today. Global Partners (GLP) announces its payout and reaffirms for the future. Markwest (MWE) announced its payout last night and so did Magellan Midstream (MMP).

After yesteday's nutty day stock futures are dead even this morning after hot inflation numbers. Oil is flat. Nat gas is up a few ticks. The dollar is getting slammed against the Euro and gold is a little higher. Another day of trading as my stomach keeps turning.

No comments: