Up a buck 35 on the MLP index while the dow is down 40 points at this posting. Since we have all these predictions of recession it is worth noting that the last period of declining growth (2000-2002) saw the MLP index rise from 100 to 182 in that 2 year period. Of course there are many more MLPS trading today so the question becomes whether MLPS will be the defensive magnet that draws money in a recessionary enviornment? Food for thought here.

Energy Transfer (ETP), Transmontaigne (TLP) and Exterran Partners (EXLP) are up 1 point or more. Nustar (NS) Holly Partners (HEP) Duke Midstream (DPM) and Calumet (CLMT) are strong fractional winners.

Down major fractions to 1 point include K-Sea (KSP) Williams (WPZ) Hiland Holdings (HPGP) and Terra Nitrogen (TNH). Buckeye Holdings (BGH) Linn Energy (LINE) and others down fractions.