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Thursday, May 06, 2010

Big flight to quality going on in the 10 year with the yield now down to 3.46% which is the lowest yield in about 6 months. The dow is down about 100. MLPS down 8 on the index and its basically throw them out the window time here. Calumet Speciality Products is down another 2 and change to a 15 handle and its down from 23 last week. Exterran Partners earnings (EXLP) did nothing to inspire and the stock is down 1 and change to 23. Inergy Holdings (NRGP) and Energy Transfer Partners (ETP) are down 2 plus as well. We're down almost 30 points from the mlp index high at 316. If markets dont turn soon we may have to question whether the bull move that began in December 2008 at 150 has run its course. Too early to come to that conclusion but it is something to consider since we went up over 100% in 16 months plus 6 distribution payouts.

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