A sea of red out there...everything in MLP land is down with one or 2 exceptions. Calumet Products Partners is somehow up 1 dollar. Hiland is up a fraction today and so is Duke Midstream and Plains All American. They are buying some assets from BP.

The list is long on the downside. The XOI is down 25. Sunoco Logistics is a 1 dollar loser and so is Alliance Resource GP which is a recent IPO and is trading below its offering price. Not a good sign that IPO's of GPS are coming out and trading under water. Magellan Holdings is under 20. Buckeye Partners is under 41 for the first time in awhile.

10 year rates are supportive as yields are fallling today. But I think the overall market tape is very negative and seems destined to breakdown this afternoon.