MONDAY MORNING AFTER THE BIG NUMBER!

Doulble shifts kept me busy last Friday so i apologize for the lack of posts. We saw the markets rally big on the better than forecast employment numbers, sell off midday and finish firm. Lots of push and pull back and forth here. MLPS having a tough time breaking out above 267 and the longer it takes, the more concern i have that this rally may have run its course. For now however until we see a clear reversal of trend and a break of those uptrend lines the path of least resistence remains higher.

This morning we are seeing markets starting off flat or a little lower. MLPS are getting pushed and pulled around by all sorts of forces. There is a broad front page piece in Barrons that it may be time to swap out of bonds and into preferred shares, utilities, and mlps. You need to be a subscriber to read the piece. Otherwise there is no news this morning on the corporate side. Breitburn(BBEP) has been involved in a lawsuit with Quicksilver (KGS) which will probably come to trial next year. Quicksilver announced today that its dropping its lawsuit against Breitburn directors.

In the energy complex this morning crude is down but nat gas is up 4% as colder than normal weather takes hold in the northeast and midwest and it will likely hold in place for the rest of this month. Stock futures are flat. Gold is down another 25 bucks after Fridays 60 dollar plus implosion as the dollar rallies and that rally is extending itself today.