BUSY WEDNESDAY!

5 points down on the mlp index yesterday with the dow off 200 points and notice we didnt even come close to the trendline at 307. And futures are pointing to a bounce back of 50 or 60 dow points at the open. We were due for a selloff in the overall market anyway and perhaps we got it all in one day. Greece news will be driving overall markets so volitility may be back here. Still the bulls have not lost control.


Lots going on this morning with earnings and distributions. Sunoco Logistics (SXL) announces a blowout quarter and a distribution hike. Conference call set to go this morning. Energy Transfer Partners (ETP) and Energy Transfer Equity (ETE) announce their payouts which is unchanged from last quarter. Also unchanged from last quarter is the payout from Martin Midstream Partners. Eagle Rock Energy Partners (EROC) announces a 2 1/2 cent payout to its unit holders. And Breitburn (BBEP) has their payout on the table as they resume a 38 1/2 cent payout to unit holders that has been on hold for over a year. The company announced that this would happen 2 months ago so its now official.

We're waiting for earnings news this morning from Oneok (OKS) and TC Pipelines (TCLP) which should be out anytime and Enbridge Energy Partners (EEP) is due out after the close. Headlines as they cross this morning. JPM Morgan is upgrading Capital Products Partners (CPLP) to overweight from neutral.

Other mlp drivers this morning we have crude up after pulling back from 86 bucks. Nat gas is taking a little gas this morning as well. And speaking of gas we have a fed meeting and an announcement at 2:15pm. 10 year rates are back down to the bottom of the recent tight trading range between 3.65 and 4. Will the fed change the language and start the long predicted rate climb up or as bad as US debt is...its still far better than everyone elses? Stay tuned.