Hinds Howard's  Instablog

Everything bounced back strong this week, on better news out of Europe (although that could change next week), and further promising datapoints on the U.S. economy, including a good jobs report today.  MLPs weren't up as much as stocks, but they also weren't down as much last week, either, and have well outperformed year over year and year to date.

It feels like MLPs have been tempting fate for quite a while and that at some point there will be a pullback.  If you’ll allow me another 80s comedy reference (hopefully my last for a while, but never know when inspiration will strike), the sector sort of reminds me of the bishop in Caddyshack who plays the round of his life amidst a driving rain storm, before getting struck down on the 18^th green after missing his final putt.

Tough to say which hole we're on right now, but the MLP index is at a level it tested in July and October and failed to break through both times...

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