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Thursday, July 17, 2008

Semagroup Energy Partners (SGLP) finally put out a press release at 8:10 pm after all trading ceased. Parent may file for chapter 11 so it won't be pretty for the shares in the morning. Of course many got out at higher prices this morning. Somebody knew something.

Close at 262.01 which is the lowest close of the year by a few ticks. Who knows what tomorrow brings but energy is weak now so it can't bode well even for a bounce. More in the morning.

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