Some selling to start off the new trading year as the MLP index dropped nearly 2 points but has come back to almost half way. Energy getting hit hard as crude is down 2.60 and nat gas has turned lower so they seem to be dragging MLPS with them. The Lehman double downgrade of Markwest (MWP) sent that issue down nearly 4 points at the open but its down less than 2 now. Oneok LP was down 2 at its worst of the day but its come all the way back to down just 29 cents. Line Energy dropped 1 and change but it is now off its low as it sits just over 31. Duke Midstream (DPM) sold off down 80 cents perhaps as traders focus on the new Duke Energy Spinoff which starts trading today. Spectra Energy (SE) is up 2 from the opening price.

Meanwhile on the upside Calumet (CLMT) is up and we have fractional gains in Crosstex (XTXI) US Shipping (USS) Holly Partners (HEP) and a few others.