APPROACHING 250 AGAIN!

250 looms just above us on the mlp index and yesterday the dow broke out to a new trading high so i guess it is reasonable to conclude we could be heading for 10,000 on the dow. The mlp index can get to 270 on such a move so i would be looking for a breakout at anytime to the next level. Note that the mlp index is up 100 points from that sad sad day a year or so ago when we broke under 150.

Oppenhiemer is on the horn this morning as they upgrade Spectra Energy (SEP) to a buy. Not much else happening corporate wise or anal-ist wise. I noted yesterday that nat gas suddenly has come alive and seems to be driving mlps on this go around. This continues this morning. Nat gas is up another 11 cents as of this posting and it seems that we might be heading for $4.00 gas. Thats not to say we could head back to 3 first in a hurry but there is still lots of headroom for nat gas to move up in here. Crude is a little lower as inventory numbers are out later this morning. Stock futures pointing higher at the open as the dow looks at 9700 as the next step on the stairway.