MLP index down 2.52 and at the lows of the morning so far. Its been a slow grind down and right now as i have said..2 things are at play. One is the view that long term rates have finally bottomed and the ex distribution cycle. 316 is where the 34 day moving average lies and is a logical downside target here short term.

BTW Crosstex Energy (XTEX,XTXI) are both up over 3% in sympathy to Atlas Pipeline (APL) which is up 4. I guess the hope is that Crosstex will tell us that sometime soon or when they announce earnings in early August.