ITS STILL ALL GOLDMAN...ALL THE TIME!

Goldman earnings this morning lead the parade and since the SEC indictment fell on party lines there is a feel here for the politcal motivation. Nonetheless its a bull market and when news hits its ultimately a positive. Futures are 5 points higher this morning ahead of the open. As far as mlps go there isnt much to trade on this morning. We have distribution announcements from TC Pipelines (TCLP) which is unchanged from q4. El Paso Pipeline (EPB) boosts its distribution by 2 cents from q4. Thats it on the news front this morning and there is nothing on the upgrade downgrade list.

The mlp index closed up nearly 2 points yesterday so it looks like we're heading back up to 315. The march to 340 continues as many mlps are not just at 52 week highs but some are inching toward all time highs. Some are already there like Kinder Morgan (KMP) and Inergy Holdings (NRGP). But there remain some that are still 50% or more below their all time highs like Atlas Pipeline (APL) Crosstex (XTEX) and Breitburn (BBEP) among others. So if you picked right you can say...what bear market?

Dollar up a little..bonds up a little yields down...crude and nat gas are both up.