BUCKEYE HOLDINGS OFFER

WITHDRAWN!

I kept having one thought with regard to this 17.50 tender offer that was on the table for Buckeye Holdings (BGH). What happens in this current market if the offer is pulled? Well we are about to find out. I have no position in BGH but i have bought it and sold it a few times in trades back in a time when making money was actually occuring from time to time. If i were a unit holder today i would have gladly taken the 17.50. But the offer was pulled as a result of the board rejection the raised 17.50 tender offer. Right now BGH is 10 bid 15 ask so it will open lower.

MLPS are bid higher this morning as the overall market is dead cat bouncing after yesterday. Could be another one of those jaw dropping one day short covering rallies today...or it could be an up open that will be sold into with both hands. Who knows. Its a brave new world out there.

No other headlines so far this morning and no upgrades or downgrades not that they matter much these days. Hindsight tells us the anal-ists should have put sells on mlps months ago. Crude a little higher this morning after cracking 50. My brother in law who trades the pits suggests that if 48 goes on oil...he would look for it to trade down to 30 dollars based on his chart work. Can you imagine what that says for the economy? D E P R E S S I O N ! And that probably means a 6 handle on the dow and S&P. But at least at the open we are going to dead cat bounce!

I'm still not up to speed on my computers as they have been in crisis mode for the last few days. So bear with me please if i miss a news item. I'm going to buy a mac this afternoon!