RALLY GOES ON!

Support lines are at 258 on the mlp index and 10,000 on the dow as the 2 steps foward one step back dance continues. Seasonal factors are strong here and we have options expiration which looks like it has a positive bias. So we start the morning higher ahead of cpi. Crude oil has a bit of a bid in it this morning as it nears 80 dollars again. Inventory numbers loom at 10:30am.

Nothing specific on the upgrade downgrade list. Just noticed HSBC is starting some of the major coal plays like Arch and Peabody at an overweight. No corporate headlines driving any individual mlps this morning. There was a renegade 4 point upside trade on Magellan Midstream (MMP) in after hours but that looks to be nothing other than some fool overpaying. No news there.

Sorry for the lack of posts. Worked a 22 hour day yesterday and was so overtired i could barely make it up the stairs last night. Back to normal today.