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Tuesday, September 02, 2008

So far its the decline in anything energy that is taking hold and the MLP index is now down over 2 points under 271 and at the lows of the day.

A few bright spots with some individual issues like Williams (WPZ) which continues to distance itself away from its 52 week low up another 40 cents or so. Calumet Specialty Products (CLMT) is a big winner in the decline in the oil price and its up 66 cents to just under 15.

Coal and resource MLPS are getting hit hard with 1 point plus losses in Alliance Resource (ARLP) and Alliance Holdings (AHGP), Natural Resource Partners (NRP) and Penn Virginia Holdings (PVG).

Still holding out hope that we could firm up in the afternoon but its becoming a bit doubtful.

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