MLPS WATCH THE MARKET RALLY BIG

That pretty much sums up yesterday where the MLP index closed at a new all time high just under 341 and higher by just under 1 point. This is not unusual really. Many times when the market rallies big all the interest goes into all the obvious stuff and we just sit around and mark time. We may play a little catch up this morning as there should be followthrough buying in the overall market.

There really isn't much to trade on this morning as there are no corporate developements. Crude oil is up this morning and Natural Gas is rallying up 12 cents in electronic trading and is back over 6.60. Yesterday's action was bullish as they took em down on bearish news and then reversed and closed near the high of the day. So my nat gas play yesterday may turn nicely profitable today. We'll see. But i think that we hit bottom yesterday and we should get back to a 7 handle on gas soon.

In upgrades and downgrades this morning Tortoise Energy Infrastructure (TYG) which is an mlp trust was downgraded from buy to neutral by Ferris Baker Watts. Nothing else on the list.

In horse racing news my horse Hallie's Charm goes 1 mile on the grass in this afternoons 9th race at Monmouth Park...10-1 morning line. My new horse Farleyshellonwheels runs next thursday at monmouth. No guarantees of course but i will be watching from home today since i have no desire to sit in weekend getaway traffic.

I now stand corrected as Constellation Partners (CEP) announces a big deal that should move the stock higher.