The mlp melt up continues as Hiland Partners (HLND) adds another 3.74 and closes at 11.99. Thats a triple from the pre Christmas lows under 4 dollars! And Hiland Holdings (HPGP) has doubled to 4.60. Glory! I'm still long from the low 5's.

The number of MLPS with single digit handles has declined from 22 to 13. Crosstex (XTXI) was up 2.34 and closed at 6.87. That one could have been gotten under 3 dollars last week. Atlas Pipeline (APL) is back over 10 dollars.

After the close Enterprise (EPD) is down 1.22 as it has taken the opportunity of the stock price rise to sell some equity. 8.6 million shares coming to market. At least they don't have to go to the debt market.

The mlp index was over 200 for most of the day but had to settle for a close just under 200 as the market sold off a bit in the last hour. Still i like the feel of this rally on the tape and mlps seem to be taking a leadership role in here. So far they are bouncing hard from the extreme oversold conditions of December. The rally in my view has legs and has more to go.