| Search by tag or site | Login to my blog ? Start my own blog |
 |
Master Limited PartnershipsA blog dedicated to the discussion of MASTER LIMITED PARTNERSHIPS. |
4 Up Days In A Row...shooting For 5 crosstex (xtxi) Gets A Buy Nod and Will We Ever Get A Correction?
Posted on 03/23/2007 16:52 PM | Link | Post Comment
Friday
has arrived and we are shooting for our 5th up day in a row. There is
no corporate news to move the group along this morning. We do have
Goldman Sachs upgrading Crosstex Energy (XTXI) to a buy from a neutral.
The stock has been trying to hold the 28 level as support and that
appears to have been successful so far. Looks like the Goldman goose
should bring this one up a bit today. AG Edwards is downgrading Penn
Virginia Holdings GP(PVG) from buy to hold. Goldman also reiterates its
buy on Buckeye Holdings (BGH) and raises its price target there by 2
dollars to 25 dollars.It is reiterating its neutral stance on
Enterprise Holdings (EPE) and Valero GP (VEH) although it is raising
its price targets on both issues.
Here are the daily and weekly chart of the AMZ MLP index. I would just like to point out something first on the daily chart.
Notice that it has been 3 months since we last touched the 34 day moving average. That bar down a few days ago is an error. We did not trade near 300 this week at any time. So I think we should at least begin to prepare for some sort of short term correction in the group that could come at any time. I want to emphasize however that i believe that it would be just that...a short term correction similar to the late December early January move.
Meanwhile the weekly chart shows no sign of a top which is why i would not be concerned about any pullback and that it would be another buying opportunity.
Crude is down this morning after yesterday's big rally. 10 year rates are sitting at 4.59% this morning after moving higher yesterday. Stock futures are flat pre-open. So sit back and lets work through the open.
Here are the daily and weekly chart of the AMZ MLP index. I would just like to point out something first on the daily chart.
Notice that it has been 3 months since we last touched the 34 day moving average. That bar down a few days ago is an error. We did not trade near 300 this week at any time. So I think we should at least begin to prepare for some sort of short term correction in the group that could come at any time. I want to emphasize however that i believe that it would be just that...a short term correction similar to the late December early January move.
Meanwhile the weekly chart shows no sign of a top which is why i would not be concerned about any pullback and that it would be another buying opportunity.
Crude is down this morning after yesterday's big rally. 10 year rates are sitting at 4.59% this morning after moving higher yesterday. Stock futures are flat pre-open. So sit back and lets work through the open.
- Enjoy The View Since Its Better Than The Mlp Chart!
- Back To Work Monday!
- Oil Nearing 100 Dollars As Dollar Collapses And Stocks Implode!
- Boo!
- Be Still My Heart. Enbridge Partners Boosts Its Distribution!
- December 2007
- November 2007
- October 2007
- September 2007
- August 2007
- July 2007
- June 2007
- May 2007
- April 2007
- March 2007
- February 2007
- January 2007
- December 2006
- November 2006
- October 2006
- September 2006
- August 2006
- July 2006
- June 2006
Examples
Morpheus Trading - Mon Jul 21, 2008 08:33AM
NOTE: Please click on the charts below to enlarge them if [read more]
NOTE: Please click on the charts below to enlarge them if [read more]
Morpheus Trading - Mon Jul 21, 2008 08:31AM
NOTE: Please click on the charts below to enlarge them i [read more]
NOTE: Please click on the charts below to enlarge them i [read more]
Millionaire Now! by Larry Nusbaum - Tue Jul 22, 2008 09:23AM
Hedge funds have made billions this year shorting the banks, [read more]
Hedge funds have made billions this year shorting the banks, [read more]
<< My Home | TheMoneyBlogs Home