IN THE LAND OF NEW ALL TIME HIGHS!

We traded almost a full point above the old high close of 342.20 and in the last 15 minutes yesterday, some selling took us under 342 for the close. Still it is the highest close since July of 2007 and it completes a round trip down to 145 to which we are approaching the 2 year anniversary. It took 23 months to get us back to all time highs while the rest of the market remains some 30% below its all time highs. All this plus sizeable distributions. Who is better than us?

Futures are higher but off the highs after a bit of a disappointing number on ADP. 11,000 is on the radar for the dow today and this could trigger off some short term profit taking. We also have the employment numbers on Friday which are the last numbers before the election in Novemeber. Crude is down this morning but nat gas is up a few ticks ahead of oil numbers.

MLPS not doing much ahead of the open with no corporate news drivers and no upgrades or downgrades so far.