POST HOLIDAY FIRM WITH BEARS EVERYWHERE!

Hope everyone's 4th of July weekend went well. We come back to what should be a slow trading week and a heatwave in the northeast . Over the weekend the press was about as bearish as you could be. There was this on CNBC.com that its the depression all over again if you believe the charts. This of course sets the blogosphere ablaze with all sorts of commentary. Then there is Paul Krugman of the NY Times who blames republicans for everything. One must be clean before reading Krugman so be sure to bathe.

In the end seeing all this gloom and doom around in the press leads me to believe that the markets may fool everyone and rally in here. But lets make no mistake there are big big issues out there and lots of headwinds to deal with.

We here in the land of MLPS however seem to be in a different world of sorts as money continues to move to yield. MLPS are not that far from new post 2008 bear market highs. This morning with stock futures we're set for a higher open. News from Kinder Morgan(KMP) and Copano (CPNO) as they will be managing energy for SM Energy. Both stocks are bid up ahead of the open. No other corporate developements and no upgrades or downgrades so far this morning.

Markets are firm this morning in Europe. The dollar is down against the euro which is good for stocks. Yields are a little higher this morning in the face of the world not having ended over the weekend.