Trying to digest today's move and figure out the implications. No doubt the sell off was coming. It was a matter of what would be the trigger and the rising 10 year yield to the top of the range is the reason. The moves were decisive. 23 mlps/gps/trusts were down 1 point or more; 11 were down between 1.50 to 3 dollars! Only 3 were up, 67 down.

Okay so if we are shopping for bargains and assuming this is just a bull market correction...we can certainly look at some potential bargains at the open tomorrow. I bought some Magellan today and also but some Buckeye Holdings. Tomorrow morning i will be looking at Calumet, Atlas Resource which sold off to 34 today, along with a few others. I'm hoping for a big down open to wash out the sellers and then wait for the rebound. Of course the best laid plans of mice and men and who knows whether the correction has run its course or not. But for sure there are some MLPS out there that have corrected nicely off their 52 week highs and are much better buys now then they were just 2 or 3 weeks ago.