The dow is up 185 and at 11,400 right now and clearly we have broken out above the 11,200 level. MLPS trading at all time highs with the index up another 3 points. Not every mlp is up however. Holly Partners (HEP), Energy Transfer Partners (ETP) and Energy Transfer Equity (ETE) are down fractionally and Genesis (GEL) is down 1 on the stock offering. On the winners side, Markwest (MWE) Oneok (OKS) Enbridge Energy Partners (EEP) and Alliance Resource (ARLP) all up one point or more and much of the rest of the group showing solid fractional gains. Spectra Energy put up earnings this morning and the stock is up fractionally.

Rates are sharply lower with maturities 10 years or less thanks to the fed. 30 year yield is holding above 4. Nat gas numbers were bearish so nat gas is down but not completely falling apart.