SEMI-HOLIDAY MEANS HIGHER PRICES AND HIGHER MLPS!

Anyone paying attention to baseball this weekend surely picked up on the fact that the Colorado Rockies game had to be cancelled because of snow and they played last night with temps near 30. A very cold weather pattern is dominating the midwest and soon the northeast for this entire week. This could be the driver behind nat gas prices which continue to trend higher. Crude is higher by a buck and a half this morning. Add that to stronger stock futures and a falling dollar this morning and the stage is set for an up day. That key reversal from 2 weeks ago winds up failing and the uptrend continues. BTW with regards to negative key reversals (market takes out the prior days high and then closes below the prior days low); when you look back at them over time they wind up being nothing more then statistical noise. Positive key reversals on the other hand tend to be a better bet at telegraphing the end of a short term downtrend.

Since it is Columbus day and banks are closed i would suspect that news items will be just about non existent. So far there is nothing on the upgrade downgrade list. So basically we are trading into a vacuum and the path of least resistence remains up. I suspect sometime this week we take out the high from 2 weeks ago at 9930 and make a decisive run to 10,000 on the dow.