The mlp index is down over 10 points and off the lows of the day!!! Its just a wholesale selloff in the group and not totally a surprise on the magnitude since there was some fast money in there just for distributions which are now pretty much through the ex distribution cycle. So there is no reason to hold them if you have to wait 3 months for the next payout. Lots of 1 and 2 point losses in there as the dow is now in free fall off 155.

Enbridge Energy (EEP) Oneok (OKS) and Buckeye Partners (BPL) all down 2 points or more. And the list of mlps down 1 or more is long and deep. Atlas Energy Resources (ATN) is up 4 cents and is the lone winner.

Crude is down 3 dollars to 70. The dow is now sitting just about on its 200 day moving average so at some point there should be a rally attempt. I averaged into the triple long energy etf (ERX) in the last hour at a price of 31. They have 2 hours to bring em back enough for me to make a few dollars.

Remember if you are using this selloff to add to positions its best to ladder in and let the market come to you in terms of price.