MORE OFFERINGS BUT MARKETS STRONG PRE-OPEN

E.V Partners (EVEP) was looking at a 32 dollar stock price before the market correction but high 20s was enough for a public offering of shares which priced this morning at 28.08. That is really the only headline in MLP land as markets are focusing on the Greece problem getting resolved to some degree. So it looks like a nice rebound to start and we need to see if it has any followthrough to take us back over 10k and keeping us there.

Barclays is raising its price target on Buckeye (BPL) to 55 bucks with the stock at 54. Now there is a really brave move. Not much else happening. Some premarket trades in Breitburn (BBEP) above yesterday's close as the company brings back the payout. Not much else happening this morning. Crude is up and so is gold. Nat gas is a little lower.

Yesterday's action could still be part of the short term bottom process at 9800. We need to put together a couple of nice days. The wild card remains all this soverign risk news and how it plays.