SEMAGROUP IMPACT CONTINUES

PLUS MORE RESULTS AND BOOSTS!

Not that it matters these days...because it doesn't but Crosstex Energy LP (XTEX) and Crosstex Energy (XTXI) boost their payouts for the quarter. And we have earnings this morning from Enterprise Products Partners (EPD) and we also have numbers from Duncan Partners (DEP) and of course they look fine. And Wachovia saw something in Sunoco Logistics (SXL) earnings yesterday and they upgrade the stock to outperform from marketperform.

Add Teppco (TPP) to the growing list of companies saying they will not be impacted from the Semagroup mess. The Wall Street Journal (pay site) this morning says it was being short crude oil that may have caused the spike to 147. Semagroup had to cover those short positions which caused the huge trading loss and the push to chapter 11. Far be it for me to criticize since i went long the refiners as a dropping oil play which has not turned out well. Semagroup is the parent company of Semagroup Energy Partners (SGLP) which trades publically and has not filed for chapter 11. 90% of SGLP's business comes from the parent.

Crude oil has been straddling either side of the flat line this morning. Gasoline is actually close to having a 2 handle again. Nat gas continues to implode this morning down another 11 cents. Stock futures a little softer but not by much as the repair rally continues. We of course in MLP land continue to wallow in the snake pit in a state of perpetual hopelessness. A reflex rally is due in energy stocks and we seem to be following them down so if they bounce...we should too but probably won't.

News from Inergy LP which boosts its distirbution and also from Inergy GP which is lifting their payout.

So sit back, relax, seatbacks and tray tables in their upright and locked positions.