MLPs Look Ready to Bounce

What I wrote on my Facebook page yesterday (I've taken to publishing there daily, as it's more interactive with what my employer does)

Check out the break of the downtrend in the AMLP fund, which is a fund of MLPs. This is a late-day reversal in MLPs. And late-day reversals tend to be followed by big bullishness the next day.

Perhaps MLPs have gotten so oversold that shorts are closing out positions. I don't know if individual MLPs are good buys here, as I thought my favorites in the group should never have gotten as low as they did. Really, the price level in MLPs that can pay their distributions seems to have gone into "Legendary Stupidity" territory. So, it's hard to make a rational judgment on if this is a bottom.

Still, very interesting to see at this time.