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Thursday, August 10, 2006

It never ceases to facinate me how this stuff trades. Take Crosstex Energy LP for instance...the stock started droppping yesterday and it continued this morning until....RBC Capital Markets reiterated an underperform rating on the stock...and as soon as that hit the wires just after noontime...the bids firmed and the buyers starting hitting the ask. Now logic would dictate the exact opposite. And Crosstex (XTX) which has been in freefall from 100 also turned and is now higher for the first time in 4 days. Go figure.

Most MLPS are lower at the lunch hour with the MLP index down 1.27. Most MLPS are down fractions but no one is down more than 50 cents. And there are a few winners today with Sunoco Logistics up 75 cents but there is no news there.

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