STOCKS AND RATES SHARPLY HIGHER..
AND MLPS OPEN HIGHER!

Last night's news that the government plans to put us in hock for another trillion or so by extending tax cuts, payroll tax cut, and a few other goodies is sending the markets sharply higher at the open with the dow up about 90 points and at the very top of the recent range so we could be poised here for a decisive breakout to new 52 week highs. However also breaking out this morning are rates on 10 and 30 year paper which are up 11 and 9 basis points respectively.

MLPS are ignoring the rate rise and following the dow up 2 points on the index this morning. Eagle Rock (EROC) got an upgrade and target price raise to 11 bucks by RBC and the stock is up 34 cents. Alliance Resource (ARLP) leads the way higher up 1 and change. Nice fractional gains in Sunoco Logistics, Holly Partners (HEP) Oneok (OKS) Magellan (MMP) and Nustar (NS). Only a handful of losers and those are only down pennies so we are starting off quite nicely here. No corporate news this morning and no upgrades or downgrades.

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