Good Morning.
Most of these guys cut their losses yesterday by closing time. Its getting to the point where these stocks are severely oversold; yields are approaching 8% in some instances. Atlas Pipeline which has been growing its distribution at a 16% annual clip is yielding 7.8% which is higher than Northern Borders Partners who has not raised its distribution in several years. And some of these like Valero LP is selling for less than it did in MAY 2004 when the 10 year spiked to 4.95%.

I think money flows right now are out of energy and into technology and MLPS are being sold as a source of those funds. And they don't seem to be attracting new money. But the 10 year spread being over 3 points...we are at the top of historical range.

No news on the corporate front this morning.