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Monday, May 22, 2006

It looks like its one of those days where if it lives or breathes anything energy...its down. Except one or 2 up a nickle...like Oneok LP (formerly Northern Borders Partners)...its down. The XOI is down nearly 3 percent...and we have 1 point or more losses in Penn Virginia Resources (PVR), Calumet Products Partners (CLMT), Alliance Resource(ARLP) and Crosstex Energy (XTXI)...large fractional losses in Copano, Markwest, Crosstex LP (XTEX) and a host of others.

Overall market tone not helping either as everything pretty much heading in one direction. Would not be surprised to see dow test and break 11k very soon. Looks to me like the bonds are in the beginning of flight to quailty mode as the ten year is now under 5 % again.

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