Big cap MLPS are taking the index lower again as the overall market rallies. Energy Transfer Partners (ETP) is down 1 and change. Is it because its anticipating a stock offering because of the new aquisition? No news on it. Energy Transfer Equity is flat to up a few pennies.

Some breaking news this morning on Crosstex Energy LP (XTEX) as they say they are restating earings for the first 2 quarters. The stock has been down, then up, and now its down 75 cents. The company says no restatement required for Crosstex Energy (XTXI). Meanwhile Plains All American Pipeline (PAA) says its earnings will meet the high end of expectations. The stock was up 50 cents initially but now its flat on the day. Oneok LP (OKS).is down another 60 cents with no additional news there. Copano Energy (CPNO) is down 1.35. No news there. I put the chart up on Copano yesterday as a breakout possibility but i was leary on this one because of the lack of volume.

The XOI is desperately trying to hold the 1040 area as it is now down 5 points after being up a couple earlier. Volitility is the name of the game these days. Crude Oil is holding 60 bucks at least so far today.