STILL UP ON THE YEAR (BARELY) WHILE THE DOW IMPLODES! THE ROAD TO HELL IS LITTERED WITH MLP "CALL OPTIONS"

The horror show just goes on and on with a 300 point dow industrial drop yesterday and a 12 point plus decline in the MLP index. And yet somewhow with the dow 1200 points lower than the beginning of the year, we still remain 1% high for 2009. We must be doing it with mirrors! And you better be in the right mlps otherwise your portfolio is a nightmare.



Earnings news yesterday from Crosstex Energy (XTEX,XTXI) were an mlp holders worst nightmare. The company has suspended its distribution. And there isn't anything worse than no payout for an mlp. The stocks were selling with call option handles and yesterday they were taken to the land of the 1 dollar handle!

We also have Atlas Holdings (AHD) earnings which indicate all the problems facing this company. Atlas Pipeline Partners (APL) also put up earnings with the appropriate details. Markwest Energy (MWE) has closed its partnership and it put up earnings yesterday. Company has hedged itself according to the release and hints at no negative impact on the distribution for 2009. We can only hope. Markets are deadcat boucing this morning. Its gotten to the point where i am not even looking to hard at my portfolio. Can't do anything with it.

Sorry again for yesterday but we had a nice snowstorm and i got to work it which was much welcomed.



This is the morning after. That moment right after sunrise. Let the melting please begin. Its 14 degrees out there so the March sun has its work cut out for it.