4% AND 5 POINTS UP!!!

That was yesterday's move and it has put mlps in a new breakout mode above 311 so i think it seems more and more likely that we are going to at least challenge the all time high at 340. Higher rates are met with a shrug so as long as the market reacts the way it does to these things...the bulls continue to hold control.



The 10 year is back to last May's high around or just over 4% so we will watch for followthrough higher but the charts certainly support a breakout to at least a new trading range. The market's view on this is that everything is getting back to normal. The mlp index is not spooked by this as it makes a new high in its long uptrend going back to December 2008. So let us continue to roll along. My portfolios are now just about all the way back to the pre market meltdown.

This morning we have a little profit taking going on as the index is down a fraction and so far moves are small in either direction. Goldman starts Williams at a buy but the stock is down a touch this morning. Not much else happening in either direction. Markets are a little lower as we continue to knock on the door of 11,000.

Took an extra day off to recover from Easter which is a very busy time around here. Hope everyone's Easter was wonderful.