The MLP index closed down about 2 points near 295 but that move was distorted by Kinder Morgan (KMP) being down 1. Oneok LP (OKS) was down 1. Enbridge Energy Partners (EEP) was down nearly 2 and Buckeye Partners (BPL) was down 3. All these stocks are large components of the MLP index. Meanwhile a fair amount of MLPS closed higher and there were some nice moves. E V Partners (EVEP) which traded as low as 30.76 yesterday closed at 34.74 up nearly 3 points. Williams (WPZ) and Martin Midstream (MMLP) were both up 1 point. Fractional winners include Linn Energy (LINE) which is back over 26, Breitburn (BBEP) Constellation (CEP), Plains All American (PAA) and Copano (CPNO).

The action is still a bit discouraging overall but they seem to be coming off the relentless selling that some of these have endured lately. There is a sense that Oil may have toppped out after climbing to 95 this morning and selling off and closing down near 91. BTW Citigroup upped General Marine (GMR) to hold from a sell this morning.