LOOK AT THE CHARTS
ITS ACTUALLY NOT THAT BAD!

Take a look at the Dow chart from late December and you will notice that we have dropped nearly 10% or about 1300 dow points from just under 13800 to 12500 yesterday. Meanwhile in that period the MLP index has moved from 290 to 296 or nearly up 3%. I know it doesn't feel that way and perhaps if you are not in all the big cap mlps you are probably in the hole.

But it is important to keep perspective here and remember that we have a slew of distribution increases coming and the distribution itself which will arrive in the mail in 30 days. And also remember that volume continues to dry up (for mlps anyway) on the downside. Some of these issues are moving down on 500 share sales telling us its a combination of bids drying up and a small number of sellers moving prices.

Note we had news last night on Oneok LP(OKS) and Enterprise (EPD) of distribution boosts along with a Hiland buy recommendation. Scroll down to the post before this one.Stock futures have come well off the lows this morning. I was hoping for a wicked down open to wash everybody out and then we can have a meaningful rally. The overall market it desperately trying to hold 12500 on the dow. Oil is down along with nat gas.

Jet set for another adventure.