NEW DAY BUT ANOTHER SINK HOLE!

One day rally of 149 points and thats it? Well it seems to be at least at the start this morning with futures down over 100 points. The world is fretting about General Electric which sits with a 6 handle. Ford is going to sell equity so let the fools get in line. GM may not survive much longer. And of course we have employment numbers to look foward to tomorrow. On the mlp front we have Hiland (HLND,HPGP) earnings after the close today. That 9.50/3.20 takeover offer is looking mighty good these days.

Not much else happening on the MLP tape. After yesterday we're back up on the year when you look at the index. If you are in Crosstex or Atlas Pipeline your not! One thing's for sure. If these companies can somehow survive all of this..then one day these single digit stock prices will have been gifts of a lifetime. In the meantime there is no reason to hold an mlp if its not paying a distribution. Hence the world of penny stock land!

Crude is down a buck and a half after yesterday's big rally of nearly 4 bucks. Ho-hum. You can gather by my tone; its just not fun doing this when day after day after day, its gloom and doom, gloom and doom. The ingredients remain for a really vicious rally of maybe 1000 points on the dow but nothing happening to light the fuse.

Last night after the close we had earnings from Martin Midstream (MMLP)