Smells like a correction is underway. Whether it lasts just a few days or its something more meaningful remains to be seen.

XTEX and XTXI selloff continues...buy points for me around 54 for XTXI and 39 for XTEX. Remember these numbers are fluid and change from day to day.



The 10 year rate is approaching 4.40 and the chart looks like its turing bullish for rising yields. This could be short term and i would not worry unless we break 4.75/4.90. But we must watch very carefully.

Some other noteworthy news..Plains All American..changes in ownership http://biz.yahoo.com/prnews/050805/daf010.html?.v=19

Copano energy downgraded by Key Bank from buy to hold. PPX - 1.49 Atlas -1 and change impacting APL down nearly .90.