The dow ran to 11,529 and stopped. Now we are up a handful of points. MLPS were up 2 are now basically unchanged. The list is mixed. Suburban Propane (SPH) leads the way up 1 and Sunoco Logistics (SXL) is up nearly as much. EV Partners (EVEP) is down nearly 1 as the days biggest loser. Keep an eye on the 10 year yield which is at 2.18 percent and dropping. The recent low is 2.08% and the 2008 low is 2.02%. If markets start to let go this afternoon those yield levels may go. Crude and nat gas are both higher of crude inventory numbers.
The bear market bounce has probably run its course and the real test comes if we challenge last week's lows at 10,600. I'm still thinking a 1 handle on the 10 year.