MLP INDEX DOWN 3 AS CORRECTION CONTINUES!

317 is the natural place to go here and we're at 323 so we can get there in short order and i would be buying in that support zone. Enbridge Energy Partners (EEP) is a 3 point loser today leading the list lower. Sunoco Logistics (SXL) Williams Partners (WPZ) and Copano (CPNO) are all down 1 or more. Williams put up pretty good earnings this morning. Holly Partners put up earnings numbers which were in line pretty much. Stock is down a few ticks right now. And Linn Energy (LINE) is over 30 bucks on earnings this morning.

Atlas Pipeline Partners (APL) suggesting that it could resume the payout next quarter has given this one a reason to move higher and its up another 50 cents today after being up 4 yesterday. This one probably now can be bought on any pullbacks. The resumption of the distribution has moved the speculation to Crosstex Energy (XTEX,XTXI) as to whether they may announce the same thing soon. Those stocks are also up today in a down MLP tape.

Not sure what is going on with Enbridge (EEP) other than they are cleaning up that 2000 gallon spill in Lake Michigan. People continue to shoot first and ask questions later.

The dow has done a 100 point turnaround and is now down 50 or so and at the lows of the day.