5 POINTS AWAY FROM A DOUBLE!

Welcome back and here we are in the last week of trading. We are 122 points above the Dec 24th rally low and we are up just about 100% from the 2008 low at 146! By far MLPS have been the best performing group and if you were nimble enough to avoid the disasters in the group and stayed with the big boys...then congratulations you are probably back where you started in 2007 and perhaps more counting distributions.


Now of course we look ahead and wonder what next year brings. Frankly im getting a bit nervous in here not just due to the length of the rally but the chart of the 10 year yield below as represented by the TBT which is the 10 year yield ETF. It looks to me that we are breaking out of a base and yields could be headed higher. The mlp/10 year yield spread has tightened and it will probably tighten further as yields rise. MLP distributions are due to rise next month with the payout announcements come which is a positive. Right now we're seeing a rush to year end winners and a grab for yield. Im just thinking that after this massive rally in our little group, no would would be faulted for taking some money off the table.

Not much on the news front this morning and i would expect quiet times this week as we head into New Years Day. Nothing on the upgrade downgrade list. Crude is up and nat gas is up 3% in the pre market. 10 year yields are higher in the premarket.