While we're not certain the honourable member from Wascana, Sask., could squeeze down a chimney, Ralph Goodale sure does a fine St. Nick impersonation. By stuffing his sack with dividend tax credits for all the grown-up girls and boys and promising to let them stay up late playing with their income trust toys, he's all but assured that Canada's stock market will finish 2005 with bells on.

The jingling sound from the Toronto Stock Exchange could be heard clear across the Prairies yesterday, as the S&P/TSX composite index rocketed 226 points to a new five-year high in the first minutes of trading, declaring its relief at the government's decision not to tax income trusts and to cut taxes even further on dividends.

Led by dividend-paying companies -- banks, telecoms, insurers and utilities -- the index finished with a gain of 162.02 points or 1.5 per cent, at 11,081.82. The reaction from trust investors was even more decisive, as the S&P/TSX capped income trust index leaped 4.4 per cent.

At the Grey Cup this weekend, they won't be cheering for the Eskimos or Alouettes. They'll be chanting "Ral-phy, Ral-phy." All of which is grand news for investors. But can the Ralphy rally last? Probably.