1000 page views today...has to be a sign we hit the bottom at 281!

Wife and kids are getting ready for dinner so it gives me a chance to take a deep breath. This morning was gut wrenching and in some cases devestating. As pointed out in the comments section from this morning's poster who put up some Citigroup comments on today...worth the read. Hedge funds were dumping and they are done i believe. We got back 2/3 of the loss but not all. I suspect you will see MLPS playing catch up at the open tomorrow. Not that we are getting back to even but the yield spread between MLPS and the 10 year was down at or even below zero in some cases...now at least we are getting back to the low end of the normal range of about 2 pct points for the growers and 3% for the non growers.

I really picked a great time to be away didn't i? Hey Terra Nitrogen (TNH) was basically flat today which in this enviornment was like being up 10. This one goes ex-distribution tomorrow by 3 bucks. Natural Resource Partners (NRP) was down nearly 4 on earnings and they are cutting their estimates on distributable cash flow going foward. Eagle Rock Partners (EROC) announces its distribution and the record date is 8/8 which means they are retroactively ex-distribution...i think.

So i have to hit the shower now...hopefully we will finally get a well deserved bounce tomorrow. We are entitled to rally back quite aways...we went from 340 to 280 in a flash so a rally back to 310 or a 50% retracement of the move down is doable. After that who knows. I know we probably have a lot of work to do building a base in here.