LOOKING FOR A DOUBLE PUMP

I actually was pretty happy with yesterday's mlp performance with a 3.50 gain on the index. If you remember how many times over the last few months we saw big dow up days with the index down significantly. At least now they are moving in sync which is a good thing. I also wouldn't worry too much of the one day relative outperformace...up 3% for the S&P vs up 1.50% for us. Over a series of days, if the move is a real one we will play catch up at some point. Critical levels of 1375 and 12,700 on the major averages could get taken out today and if that happens the arguement for "the" bottom becomes much more solid. Meanwhile MLPS can rally back to 290 on the index where the old support was but i would not get too excited until we get there.

The news front on MLPS is silent this morning and we have no upgrades or downgrades. So lets bring on the open and go from there.