A 4 point down close...the good news is on the index we're only 2 points above the 34 day moving average and the 55 day moving average is at 320 and rising so if this plays out according to plan we should have this sharp shakeout and it may pass quickly. Meanwhile Magellan Midstream (MMP) was down 2 points on the day and Enbridge Energy Partners (EEP) closes down 3 as it announces a stock offering of 5 million plus shares. Williams Partners (WPZ) rallied today by 75 cents and Altlas Resources climbed 90 cents...no news on either one.

Tonight I will be taking a look at some of these charts and lets see if can't come up with some sort of shopping list. I can tell you this...Magellan has a habit of dropping to the 55 day moving average every few months..that is sitting at 46.11 and the 89 day moving average takes us down under 45...might be worth a look tomorrow if it gets there. Breitbart LP (BBEP) is at 33...down from 37. If it drops a little more i might get interested.

Meanwhile Terra Nitrogen bounced nicely today...up nearly 5 on the day. I was able to make some nice trades and clear some money which is good.