2010 IS OFF AND RUNNING!

Happy New Year to all and we should all be sober by now! And it begins folks. Today is day one of a new trading year and i think we need to acknowledge right off the bat that MLPS are just not going to have another year like last year. 176 to 286 on the mlp index for a gain of 110 points or a gain of 62.5% and then of course add 4 distributions for a total return of over 70%. More importantly if you were in the right mlps you might just be hack where you were in 2006 or 2007 while everyone else is somewhere back before 2000. Many mlps like Kinder Morgan (KMP) Sunoco Logistics (SXL) Inergy Holdings (NRGP) Inergy LP (NRGY) and a few others are at new all time highs...not just 52 week highs. Patience has paid off for mlp holders and we may be among the few to come out of the 2008 bear market alive.

We have our first deal of 2010 with Inergy LP (NRGP) buying up assets for over 200 million and of course the deal is immediately accretive to cash flow. This makes Inergy the largest propane company in the US. No other headlines so far this morning. Today is also a big day for upgrades and downgrades but nothing on the list so far that impacts our little group.

Markets are starting the day firm with stock, oil, nat gas, and gold all nicely higher pre open. Cold weather here in the east and we had 5-10 inches of snow here over the weekend making my little Long Island neighborhood something out of the arctic! So we start firm and we shall see where the first day takes us.